Aptech surges 18% in intraday trade
DSIJ Intelligence / 09 Feb 2017
Global education company Aptech surged more than 18 per cent intra-day in early morning trade on the back of heavy volume based buying in the counter. There is no specific reason for the sudden surge in the price of the stock, however, the company posted a doubling of profits in its fourth quarter.
Global education company Aptech surged more than 18 per cent intra-day in early morning trade on the back of heavy volume based buying in the counter. There is no specific reason for the sudden surge in the price of the stock, however, the company posted a doubling of profits in its fourth quarter.
The stock has been in an uptrend ever since Jhunjhunwala family bought significant stake in the company in the IT firm via block deals. Backing of an ace investor like Jhunjhunwala shows faith in the company's business and management.
Aptech has delivered excess returns of 280 per cent in the past one year hence, making it one of the multibagger stock pick of 2016.
The stock has recovered from its December lows of Rs 141 to trade at highs of close to Rs 233 on NSE. Stock was trading at Rs 228.50 up 16.5 per cent on NSE.
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