HOV Services to buyback Rs5 cr equities; plunges 10%

By PTI

Mumbai: Outsourcing services provider HOV Services today plunged nearly 10% after the company said it would buyback its shares worth Rs5 crore from the open market at Rs50 a piece.

The company would buyback its shares of Rs10 each from the existing shareholders at a price not exceeding Rs50 a piece, HOV Services said in a filing to the BSE.

Under the offer, the company would buyback a maximum of 10 lakh shares, which represents 6.15% of the aggregate of the company’s total paid-up equity capital as on 31 March, 2008 .

Buyback offer opens on 2 February and would close on 12 January, 2010, the company added. HOV Services was trading at Rs31.25, down 9.68% in the afternoon trade on the BSE.

Ansal Housing launches housing project at Jammu Real estate developer Ansal Housing & Construction today said it has launced a new group housing project named Ansal Grace, at Jammu.

In a filing to the Bombay Stock Exchange, Ansal Housing & Construction informed that the company has launched a new group housing project named Ansal Grace, at Jammu (J&K).

The company would now undertake all the development and marketing work of the project. The project is expected to have a turnover of nearly 65 crore and would be completed over next 3 years.