Stock market today, March 26 -- Shares of SIS Limited slumped over 3% on Wednesday, March 26, following the announcement of a share buyback worth Rs.150 crore.

The company said that its board at a meeting held yesterday (March 25) considered and approved the proposal for buyback of fully paid-up equity shares of the company having a face value of Rs.5 per equity share not exceeding 37,12,871 equity shares, representing 2.57% of the total paid-up capital of the company from all shareholders/beneficial owners of the equity shares of the company, as on the record date.

The share buyback will be done on a proportionate basis through the tender offer route. The company has fixed the share buyback price of Rs.404, a premium of 18% over the pr...