FDC Ltd hit a new 52-week high at Rs.289 and it continues to remain in the green. Volumes are huge at 1.35 lakh shares compared to two-week average of around 9200 shares.

Two reasons – one was the very good performance of Q3FY18 and the second was the buyback announcement.

For Q3FY18, the company posted a 13% (YoY) rise in operational revenue at Rs.249 crore and net profit showed a huge 94% jump at Rs.43 crore.

EBITDA was up 42% at Rs.52 crore and margins zoomed up from 21% v/s 16.7%. The lower tax outgo is what helped boost the net profit.

Over and above this jubilant performance, the company Board approved buyback of it shares at Rs.350/share through the tender offer. The buyback is at an over 37% premium to yesterday's close of Rs.254.65.

Currently promoters hold 68.89% with FII holding at 9.37%.