Shares of CRISIL gained more than 17 percent intraday Friday ahead of board members' meeting for buyback of equity shares next week. "A meeting of the board of directors of the company will be held on April 28, 2015, to consider the proposal to buyback the fully paid-up equity shares of the company," said the rating agency in its filing. CRISIL further said the no trading window for the employees of CRISIL and its subsidiary companies (as per the Insider Trading Code) will close on April 24, 2015 and re-open only 24 hours after announcement of outcome of the board meeting.
Meanwhile, the rating agency, on April 17, has reported a 20.4 percent sequential decline in its fourth quarter consolidated net profit at Rs 56.3 crore, impacted by lower revenue and weak operational performance.
Net sales during the quarter fell 5.8 percent to Rs 307.2 crore from Rs 326.3 crore in previous quarter. CRISIL has recommended an interim dividend of Rs 4 per equity share, for the financial year ending December 31, 2015.
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