Investor Jhunjhunwala’s stake sale buzz triggers rally in Aptech stock

Billionaire investor Rakesh Jhunjhunwala, who is the single-largest shareholder in Aptech, is said to be testing the waters for a sale of his 32% plus stake in the IT education and training company. Jhunjhunwala acquired stake in 2005. Aptech gained 1.4% to Rs 136 on Tuesday on the BSE. The stock rose from its monthly low of Rs 94.7.

While talks about stake sale have been doing the rounds in the stock market for the past many days, an Aptech spokesperson denied the possibility when contacted by ET. Besides Jhunjhunwala, GS Damani owns a 2.3% equity in the company, taking the total promoters’ holding to around 35%.

Contributed by N Shivapriya