Aptech board to consider new online biz launch

Aptech board to consider new online biz launch

Shares of Aptech hit an over three-year high of Rs 304 as they rallied 5% on the BSE in intra-day trade on Tuesday ahead of the board meeting today to conduct the business transactions to introduce or launch a new online business for the company.
The stock of information technology (IT) services provider was trading at its highest level since April 2018. It had hit a record high of Rs 449 on December 11, 2007.
Ace investor Rakesh Jhunjhunwala and his family together own 44.5% stake in the company, the June 2021 shareholding pattern data shows.

Aptech in the financial year 2020-21 (FY21) annual report said that 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.
It expects the upturn in economic activity may translate into a better operating environment and outlook in the coming financial year though the downside risks remain.

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