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The board of directors of Aptech Ltd will consider the proposal for buyback of shares on May 13.
Promoters’ holding in the company as at the end of March 2013 was only 38.56 per cent. While FIIs hold 5.67 per cent stake, the holding of domestic institutional investors is negligible at 0.31 per cent.
It is the retail investors, along with others, who hold a majority stake of 55.46 per cent.
During the last quarter, the earnings stood at Rs 19.51 crore and the net profit was Rs 3.7 crore. The EPS was Re 0.76.
The shares closed at Rs 47.40, a gain of Rs 2.05, on the BSE on Wednesday.
The buyback news perked up the stock by 7.81 per cent or Rs 3.70 to Rs 51.10 in the opening minutes on the BSE today with about 79,000 shares being traded.
The stock has been up by about 30 per cent from its 52-week low of Rs 40.15 that it had touched on March 22 this year. But it is far down from its 52-week high of Rs 82 it had reached on May 11, 2012.
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