Gujarat Apollo Industries is currently up almost 5% at Rs.167 with an intra day high at Rs.168. Its 52-week high is at Rs.180.60.

The stock has jumped up as the company announced that its Board is meeting on the 13th of April for considering a buyback proposal.

The company which is engaged in the manufacture of construction and mining equipments, for Q3FY17 posted a net profit of Rs.65 lakh v/s loss of Rs.86 lakh (YoY) though net sales declined 28% at Rs.12 crore.

Promoters currently hold 60.43% stake in the company.