60% Dividend Paid, Bonus Issue 2:5: Prabhudas Lilladher Recommends Buy On Multibagger Share For TP Of Rs 280

Brokerage Prabhudas Lilladher has added smallcap stock, Aptech to its technical pick list. It has recommended buying or accumulating Aptech shares for a target price of Rs 280. This would imply over 7% upside in the short term. Aptech is among dividend-paying stocks and in Q2 paid bonus shares in the ratio of 2:5 to its shareholders. The stock has corrected significantly year-to-date, giving room for opportunities to invest.

On BSE, Aptech shares ended at Rs 260.95 apiece, up by Rs 13.65 or 5.52% on Monday. Its market cap is around Rs 1,513.15 crore. Year-to-date, the stock has gained by at least 6.4% on the exchange. But in 1 year, the upside is nearly 15% and in 5 years, Aptech becomes a multi-bagger with nearly 110% upside.

Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher said, "The stock has corrected well from the peak level of 421 and currently is near the support zone of 240 and has indicated a positive candle to improve the bias."

She added, "The RSI has indicated a trend reversal to imply strength and has the potential to carry on with positive bias still further in the coming days. With the chart looking attractive, we suggest buying and accumulating this stock for an upside target of 280 keeping a stop loss of 240."

Last week, Aptech announced the appointment of r. Sandip Weling, with effect from November 16, 2023, as Chief Business Officer (Retail Business). Sandip has an MBA from Welingkar Institute of Management and a B.E. (Mechanical) from VJTI, Mumbai. Sandip has over 31 years of experience with leading Companies like Eureka Forbes
Ltd., Mahindra Holidays & Resorts Ltd., Jubilant Agri & Consumer Products Ltd., Bharti Axa Life Insurance Company Ltd., Kotak Mahindra Old Mutual Life Insurance Ltd., and a few others.

Also, recently this month, Aptech issued and allotted 800 equity shares consequent upon the exercise of ESOPs, at the exercise price of Rs. 67/- as determined under the "Aptech Limited - Employee Stock Option Plan 2016" by the eligible employees.

A few months ago, on July 14th, Aptech turned ex-bonus for bonus shares in the ratio of 2:5 -- which means -- that it issued 2 new bonus shares on every 5 existing shares. Also, earlier in May, the stock turned ex-dividend for a dividend payout of Rs 6 per share or 60% for FY23.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.