Mumbai, Jan. 24: Patni Computer Systems Ltd today said its board of directors would meet next month to discuss the possibility of a share buyback.

Patni senior vice-president Deepak Khosla said a notice had been sent to the Bombay Stock Exchange and it was too early “to talk about the price and other technicalities now”. He said the stock was much undervalued on the bourses.

Analysts said the stock was underperforming for quite sometime. “While the entire tech pack has been underperforming, Patni has taken a bigger beating.” There have been reports of infighting among the Patni brothers.

The reports state Gajendra and Ashok Patni, who are not involved in the company’s management, want to sell out. Narendra Patni, chairman of the company, has always refuted these reports.

The promoters’ shareholding as of December 31, 2007, stands at 43.87 per cent. On the BSE today, the Patni scrip ended at Rs 232.20, a gain of Rs 4.50, or 1.98 per cent, from yesterday’s close of Rs 227.70.