Aptech upbeat on buy back plans

Aptech is doing very well in the morning trades currently. The stock opened higher at Rs.50and is currently around its intra day high levels of Rs.51.90, up over 8.5%. Volumes are robust at almost 3 lakh shares compared to 97,000 shares over past two weeks average.

The stock is upbeat today after it announced that it Board will meet on 13^th May to consider buyback of the company’s equity shares. It will also approve the audited accounts for FY13 and consider recommending final dividend, if any.

The market is now enthused, expecting a buy back price at a premium over the current market price. As per the shareholding pattern, currently promoters hold 38.56% stake, FIIs hold 5.67%, DIIs hold 0.31%, bodies corporate hold 12.62%.