Geodesic hits upper circuit
Shares of Geodesic, a provider of mobile and desktop solutions, were trapped at 5% upper circuit on Tuesday.
By ET Bureau |
MUMBAI: Shares of Geodesic, a provider of mobile and desktop solutions, were trapped at 5% upper circuit on Tuesday. The shares were trading at Rs 44.20 and as many 31,533 shares were awaiting buy orders with no sellers available. Total traded quantity tripled to 3.1 lakh shares from a two week traded quantity of 1.1 lakh shares. In a week���s time the stock has gained around 10%.
Geodesic reported revenues of Rs 191.07 crore for the quarter ended Dec 31, 2008, an increase of 115% compared to the quarter ended Dec 31, 2007. Geodesic's net profit for the third quarter soared by 93.23% to Rs 83.70 crore from year ago.
The company declared an interim dividend of 40% (80 paise per equity share of Rs. 2 each) on Jan 30. The board also approved buyback of company's dollar denominated zero coupon convertible bonds.
Further, it proposes to buyback 25% of the equity capital through open offer.
Geodesic reported revenues of Rs 191.07 crore for the quarter ended Dec 31, 2008, an increase of 115% compared to the quarter ended Dec 31, 2007. Geodesic's net profit for the third quarter soared by 93.23% to Rs 83.70 crore from year ago.
The company declared an interim dividend of 40% (80 paise per equity share of Rs. 2 each) on Jan 30. The board also approved buyback of company's dollar denominated zero coupon convertible bonds.
Further, it proposes to buyback 25% of the equity capital through open offer.
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