BSE board to consider share buyback on July 6; stock surges

BSE Ltd will hold a board meeting on July 6 to discuss and approve a proposal for a share buyback, which involves the company repurchasing its own shares. Share buybacks are considered a tax-efficient way to distribute cash to investors and can increase the value of the stock by reducing the number of shares available. Following the announcement, BSE’s stock rose over 5%. The company also made changes to its executive team, appointing a new Chief Regulatory Officer, Chief Risk Officer, and Chief Information Officer. BSE is known as the world’s fastest stock exchange. In the March quarter, the company reported a revenue of Rs 227 crore and a profit of Rs 88 crore.

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