Aptech shares surge over 12 per cent on buyback plan

MUMBAI: Shares of Aptech opened with a gap-up and surged higher after the company announced that its board of directors will consider the proposal for buyback of shares on May 13, 2013.

The board will also approve the audited annual accounts and consider recommending final dividend in the meeting, the company said in a regulatory filing to the stock exchanges.

The company has a market cap of Rs 231 crore and shares of face value Rs 10 each are available at P/E of 13.81 and EPS of Rs 3.87 per share.

As per the BSE website as on March 2013, the promoters hold 38.56 per cent stake in the company, FIIs hold 5.67 per cent stake and domestic institutional investors hold 0.31 per cent stake.

At 12:00 pm, the stock was at Rs 53.15, up 12.13 per cent, on the BSE. It touched a high of Rs 53.70 and a low of Rs 50 in trade today.