Aptech high on FII limit hike nod

DALAL STREET SPIKES

The stock of Aptech got a shot in its arm as the RBI approved hiking FII ceiling to 74 per cent. The scrip gained 6.76 per cent on Thursday and closed at Rs 112.20, after touching an intra-day high of Rs 115.80.

Over 23 lakh shares were traded in this counter at NSE on Thursday. RBI on Thursday announced that foreign institutional investors (FIIs) can purchase under portfolio investment scheme, equity shares and convertible debentures of Aptech up to 74 per cent of the company's paid-up capital.

FII shareholding in the company as on March 31 stood at 26.94 per cent. The public holding in the company is 33.63 per cent and other institutional investors hold 8.33 per cent. Aptech acquired Avalon Aviation Academy in June and has added aviation training to its portfolio.