The announcement was made after market hours on Wednesday, 22 February 2012.

Meanwhile, the BSE Sensex was down 42.46 points, or 0.23%, to 18,102.79.

On BSE, 34,000 shares were traded in the counter as against an average daily volume of 52,386 shares in the past one quarter.

The stock hit a high of Rs 76.75 and a low of Rs 73.20 so far during the day. The stock had hit a 52-week high of Rs 96.30 on 8 November 2011. The stock had hit a 52-week low of Rs 36.40 on 25 February 2011.

The stock had underperformed the market over the past one month until 22 February 2012, gaining 7.78% compared with the Sensex's 8.40% rise. The scrip had also underperformed the market in past one quarter, gaining 5.90% as against 12.95% rise in the Sensex.

The small-cap IT company has an equity capital of Rs 12.51 crore. Face value per share is Rs 10.

Tera Software said its board would also consider issuing non-convertible debentures along with detachable warrants to qualified institutional buyers.

Tera Software's consolidated net profit rose 5.56% to Rs 6.46 crore on 23.91% increase in net sales to Rs 64 crore in Q3 December 2011 over Q2 September 2011.

Tera Software undertakes e-governance projects throughout India. The company, with 16 years of experience in IT Industry, has executed boot projects spread over 3 to 10 years, across 19 Indian states and has over 3500 outlets across India.

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