Rakesh Jhunjhunwala Hikes Stake In Aptech, Shares Hit 52-Week High


Shares of Aptech gained 4 per cent today to hit fresh 52-week high of Rs 97.25, extending their gains to the second day.The shares of the IT education provider had surged 12 per cent yesterday after billionaire investor Rakesh Jhunjhunwala increased his stake in the company. Rakesh Radheyshyam Jhunjhunwala on Tuesday bought 7,00,000 shares at an average price of Rs 91.62.As of June 30, 2016, Rakesh Jhunjhunwala held 10.14 per cent stake in Aptech. The total promoter holding in the company stood at 45.28 per cent.In the June quarter, Aptech Limited reported a consolidated net profit of Rs 0.46 crore as compared to Rs 2.84 crore in the corresponding quarter of the previous year. However, revenues increased to Rs 58 crore from Rs 50 crore in the same quarter of the previous year.At 11:28 a.m., shares of Aptech were up 0.27 per cent as compared to a 0.80 per cent fall in Nifty50 index.

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