NIIT Tech gains 3%, trades near record high as board approves share buyback

The board of directors of the company at their meeting held on December 23, approved buy-back of up to 1.96 million equity shares at a price of up to Rs 1,725 per share via tender offer.

Shares of NIIT Technologies bounced back 4 per cent from early morning lows, and edged 3 per cent higher to Rs  Rs 1,626, on the BSE on Tuesday after its board approved share buyback at price of Rs 1,725 per share via tender offer.

The stock of the IT consulting & software firm, which touched an intra-day low of Rs 1,560, was trading close to its record high level of Rs 1,642, touched on December 17, 2019. In the past six trading days, the stock has rallied 10 per cent, after the company, on December 16, announced that its board will