Patni Computers up on buyback announcement

DALAL STREET SPIKES

Shares of IT services and solutions provider Patni Computers ended Friday's trading session at Rs 268.60 a share (15.68 per cent higher) following a company announcement that it would consider buyback of its won shares at its February 5 meeting. The shares touched a high of Rs 273 a share and saw traded volume of 87,851 shares.

When contacted, Patni Computers spokesperson said, "The buyback option is yet to be considered by the board. However, the company has taken the decision for consideration as the stock is currently undervalued."