Rakesh Jhunjhunwala stocks: Aptech Limited shares hit new 52-week high on Tuesday; stock up 22.5% in 5 sessions

Shares to Buy - Aptech Limited shares - Rakesh Jhunjhunwala-backed IT training services company — Aptech Limited shares touched a new 52-week high on Tuesday to Rs 315.25 per share after surging by over 9 per cent on the BSE intraday trade. This is amid the board meeting related to the launch of new online business.

“The meeting of the board of directors of the company is scheduled on Tuesday, August 31, 2021, inter alia to conduct the business transactions to introduce or launch a new online business for the company,” Aptech Limited said in its filing.

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The scrip had surpassed an earlier 52-week high of Rs 296.9 per share on the BSE on August 2, 2021. It closed over 5 per cent higher to Rs 303.55 per share on the BSE as compared to 1.16 per cent on the BSE Sensex on Tuesday. 

The counter in the last five sessions has surged 22.5 per cent from Rs 257.3 per share on August 25, 2021, while it has been trading at its highest level since April 2018, as it had hit a record high of Rs 449 per share on December 11, 2007. 

The stock was on a continuous surge since the company informed the exchanges about the board meeting.

Jhunjhunwala colloquially known as the Big Bull and his investor wife Rekha Jhunjhunwala hold a 23.7 per cent stake in the company as minority promoters. The shares aggregates to 9,668,840 shares, as per the shareholding pattern of the company available on the BSE.

While, Jhujhunwala’s firm RARE Enterprises also holds around 20.74 per cent stake in the company, which aggregates to 1,97,17,540 shares in the company, as per shareholding pattern. Combine with his wife and enterprise, Rakesh Jhunjhunwala holds around a 44.5 per cent stake in the company. 

Rakesh Jhunjhunwala along with his wife and associates publicly holds 38 stocks from finance to tech and retail to pharma sectors. The celebrity investor also manages the asset firm Rare Enterprises.