The company is preparing to buy back shares for the third time

Business Business: The share price of small-capital company Nucleus Software Exports has increased significantly. Shares of Nucleus Software rose 20 per cent to Rs 1,411.55 on the Bombay Stock Exchange on Tuesday. This increase in the share price of this company has come after an important announcement. Nucleus Software Exports said on Monday that its board will meet on August 22 to consider a share buyback.

If the board of Nucleus Software Exports approves the buyback in its August 22 meeting, it will be the company’s third share buyback. The company had previously repurchased shares in 2017 and 2021. The company said in a stock exchange filing that the purchase of shares can be done through the proposed tender route or through the open market. The consolidated revenue of the company stood at Rs 195.4 million in the June quarter of this fiscal as against Rs 206.8 million in the same period last year.

‘Nucleus Software Exports shares have increased by 247% in the last two years. On August 19, 2022, the share price of this company was Rs 406.85. On August 20, 2024, the share price of Nucleus Software Exports reached Rs 1411.55. At the same time, the share price of this company has increased by 39% over the last year. The highest share price of this company in 52 weeks was Rs 1830. At the same time, the lowest price of the company in the last 52 weeks is Rs 966.

Nucleus Software operates through wholly-owned subsidiaries in India, Singapore, the United States, Japan, the Netherlands, South Africa and Australia. The company provides software product development, marketing and support services to corporate customers in the banking and financial services sectors.