Aptech rises on share buyback plan
The board will meet on May 13, to consider the proposal for buyback of shares.
Aptech has rallied 7% to Rs 50.65 after information technology (IT) training services provider announced that its board will meet to consider buyback of the company’s equity shares.
“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.
The board will also consider and approve the audited accounts for the year ended March 31, 2013 and to consider recommending final dividend, if any, it added.
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 50.05 and touched high of Rs 51.50 on BSE. A combined 487,024 shares have changed hands on the counter in early morning deals 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.
The board will also consider and approve the audited accounts for the year ended March 31, 2013 and to consider recommending final dividend, if any, it added.
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 50.05 and touched high of Rs 51.50 on BSE. A combined 487,024 shares have changed hands on the counter in early morning deals on BSE and NSE.