Aptech extends rally on share buyback plan
The stock has rallied around 23% in past two trading sessions on BSE.
Aptech is trading higher by 5% to Rs 58, extending its previous day’s 17% rally, on back of heavy volumes after the computer education institute announced the buyback of its own equity shares from the public shareholders.
The stock opened at Rs 57.20 and touched high of Rs 58.60 on BSE. A combined 3.21 million shares have changed hands on the counter till noon deals against an average 1.02 million shares that were traded daily in past two weeks on BSE and NSE.
“The board of directors of the company will meet on May 13, to consider the proposal for buyback of shares,” Aptech said in a BSE filing.
Currently, the promoters hold 38.56% stake in the company. Individual investors hold 41.55% holding, followed by bodies corporate (12.62%) and foreign institutional investors (5.67%), while remaining 1.6% stake is with non-resident Indians and others.
The stock opened at Rs 57.20 and touched high of Rs 58.60 on BSE. A combined 3.21 million shares have changed hands on the counter till noon deals against an average 1.02 million shares that were traded daily in past two weeks on BSE and NSE.
“The board of directors of the company will meet on May 13, to consider the proposal for buyback of shares,” Aptech said in a BSE filing.
Currently, the promoters hold 38.56% stake in the company. Individual investors hold 41.55% holding, followed by bodies corporate (12.62%) and foreign institutional investors (5.67%), while remaining 1.6% stake is with non-resident Indians and others.