The meeting of the board of directors of the company will be held on Friday, September 24, inter-alia to consider the proposal for buyback of the fully paid-up equity shares, the company said in a regulatory filing.
Following the update, shares of Nucleus Software zoomed 16 per cent to Rs 612.40 on Wednesday, before trading at Rs 589.35 at 10 am. The scrip settled at Rs 529.55 on Monday.
BSE Sensex was trading at 59,082.09, 76.82 points, or 0.13 per cent, higher at the same time.
Shares of Nucleus Software have underperformed the market as the IT software scrip is up 12 per cent in the last one year, compared to a 57 per cent rise in BSE Sensex.
In the last three years, the counter has gained less than 50 per cent but Sensex has advanced over 60 per cent during the same period.
Nucleus Software Exports is a leading provider of lending and transaction banking solutions to global financial services industry.
In Q1FY22, it posted an 83 per cent drop on a year-on-year basis in its consolidated net profit to Rs 6 crore. The total revenue on a consolidated basis stood at Rs 108.44 crore for Q1FY22 as against Rs 128.35 crore in the recent June quarter.
