This Jhunjhunwala-owned stock hits over 13-year high; rises 102% in 6 mths

Aptech rallied 9% to Rs 407, its highest level since January 2008.

Shares of Aptech hit an over 13-year high of Rs 407 after they rallied 9 per cent on the BSE in Tuesday's intra-day trade. The stock was quoting higher for the third straight trading day, having gained 16 per cent ahead of September quarter (Q2FY22) earnings. The board of directors of Aptech is scheduled to meet on Thursday, November 11, 2021, to approve Q2FY22 results.

The stock of the information technology (IT) training services company was trading at its highest level since January 2008. It surpassed its previous high of Rs 403.95 touched in November 2017. The stock had hit a record high of Rs 449 on December 11, 2007. In the past six months, the stock price of Aptech has appreciated 102 per cent, as compared to a 22.7 per cent surge in the S&P BSE Sensex.

Ace investor Rakesh Jhunjhunwala (12.50 per cent) and his wife Rekha Jhunjhunwala (11.22 per cent) collectively hold 23.72 per cent stake in Aptech as promoters, as per the shareholding pattern of the company available on the BSE. While, RARE Equity Private Limited also holds around 20.71 per cent stake in the company, data shows.

In September, Aptech had entered the EdTech segment with its latest brand addition - ProAlley.com. The brand intends to reach out to a new segment of audience who are self -paced learners wanting to learn and make a career in the growing media & entertainment industry from the comfort of their homes.

"While the initial offerings of the brand will focus on the growing media & entertainment, AVGC segment given the mass employment opportunities; however it will not be restricted to this segment alone. With the launch of ProAlley.com, Aptech Ltd now has all forms of delivery models in its business arsenal - Offline, Remote, Live and Self- Paced," the company had said in a press release.

The 'Digital Pivot' implemented by the Company mitigated the pandemic's impact to a great extent and the cost rationalisation initiatives ensured a profitable performance during FY2020-21. These measures would continue to help the Company mitigate the impact from the closure of centres for in-classroom training sessions.

"The consistent trend of QoQ increase in enrollments seen over FY2020-21, however, may be at risk due to the second wave seen across the country in the months of March and April 2021.But the expected stabilisation of the COVID case numbers in a couple of months and the restricted use of lockdown as a control measure means the economic impact may be much lesser than last year. This combined with the upturn in economic activity may translate into a better operating environment and outlook for the Company in the coming financial year though the downside risks remain," Aptech said in FY20-21 annual report.