NIIT Tech is right there among the top give gainers on the BSE. Outperforming the sector by over 6.5%, the stock rose more than 9% to hit an intraday high at Rs.1573.45, not too far from its 10% UC or today at Rs.1586.65.
The company yesterday evening announced details of the buyback, which will commence of 29th May and end on 11th June.
The company said that SEBI had provided an extension for dispatching the letter of offer within 15 days from the closure of the lockdown as mandated by the government.
It plans to buy back up to 19,56,290 fully paid-up equity shares of a face value of Rs 10 each at a price of up to Rs 1,725 per share, which is at substantial premium to the market price.