Aptech share price fell 8 percent intraday on January 28 following reports that billionaire investor Rakesh Jhunjhunwala was being probed by the market regulator Securities and Exchange Board of India (SEBI) for insider trading in the education firm.
SEBI is also examining the role of other Aptech board members, including Ramesh Damani and Madhu Jayakumar, The Economic Times reported.
Jhunjhunwala, who is the Aptech chairman, holds 24.24 percent stake in the company. The stake is valued at around Rs 160 crore. It is the only company in his portfolio in which he has management control.
Jhunjhunwala, his wife Rekha, brother Rajeshkumar and mother-in-law Sushiladevi Gupta were called in for questioning on January 24, the report said.
At 1141 hours, Aptech was quoting at Rs 162.80, down Rs 10.60, or 6.11 percent, on the BSE.
News Source: Moneycontrol