NIIT, which had closed on Thursday at Rs.200.40, opened in the green and within minutes hit a new high at Rs.209.90.

The stock hit a high after the company board approved Rs 237-crore buyback plan.

This was approved at a price of Rs.240/share.

The buyback, which is proposed to be made under the tender offer route, is subject to shareholders' approval by passing a special resolution through postal ballot.