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A maturing market amid the mayhem

Good day for IT stocks, Aptech shines

August 25, 2009

INDIATechnology stocks traded firm on Tuesday in an otherwise weak market, with the BSE IT index rising nearly 2 percent as the rupee weakened.

Thirteen of the 15-stock BSE IT index closed in the green, with Aptech leading the pack with a 16.5 percent jump.

Investors in Aptech have been lucky as the stock has generated huge returns in the past. Since April, it has jumped a whopping 206 percent.

In June, the company offloaded its 50 percent stake in its China joint venture. The company’s Q1 net jumped on this one-time gain.

The IT index has been on a roll this year, gaining over 80 percent since April and 26 percent since July. This is far higher than the return of the Sensex or Nifty index.

Would you invest in Aptech or any other IT stock at this juncture?

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