Onmobile Global opened the day today 5% higher at Rs.69.85 and was immediately locked on the upper circuit. Its 52-week high stands at Rs.73.

The company announced yesterday after market hours that its Board of Directors will be meeting on December 11, 2014, to consider and approve, a proposal for buy back of securities of the Company.

The company had bought back shares in 2011 also and that time, it bought back shares at an average price of Rs.59.41/share.  And recently in April, Onmobile Systems Inc acquired 10.16% stake through open market at Rs.40/share and this helped the promoter stake go up from 38.27% at end of March’14 to 48.68% stake as of now.