SP Tulsian of sptulsian.com told CNBC-TV18, "Aptech has started moving, yesterday we have seen it moving because of this buyback news only. The company had announced that they will be considering the buyback. If you see the situation or the position of the company on a consolidated basis, topline of Rs 150 crore and you have this debt free company with a market cap of Rs 250 crore, the management has been trying to shore up the value because earlier the promoters have indicated that they want to exit from the company but they were not getting the valuation. That is in fact the reason the company has been drawing that cash."
He further added, "They declared 15 percent interim dividend also about three, four months back for this financial year. So, these are all an exercise in that direction to make use of the surplus cash. If see their Indian business and the Chinese business in which they have the stake of about 20-22 percent, maybe this is a logical move and that can make the stock to move because the buyback news has been nowadays received very well. That kind of up move we have seen in a HT Media also yesterday because of the buyback news."
"So this is a sensible move having taken by the company and the stock can by Monday when we will be seeing the quantum at the price at which they intent to buy the shares and what kind of quantum they allocate for that can make the stock to move about to maybe Rs 62 or so."
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