Aptech shares surged as much as 13 per cent on Tuesday after the computer training and IT firm approved a buyback of its equity shares from the open market up to 25 per cent of the capital and free reserve of the Company as per the audited accounts as on March 31, 2013.
The maximum price of buyback of shares will be up to Rs 82 per share and the aggregate consideration for buyback will be up to Rs. 64.66 crore, Aptech said in a statement to the Bombay Stock Exchange.
Aptech shares traded 9 per cent higher at Rs 63.70 on the BSE as of 10.42 a.m.
Aptech's board also recommended a final dividend of Rs 2.50 per share.
The company's net profit rose 86 per cent to Rs 13.87 crore in the January to March quarter.