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Examples
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A 32% stake in Aptech is worth about $29 million, exchange data showed.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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Aptech's share price has risen by about 72% since then.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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At 0735 GMT, Aptech shares were trading at 96 rupees, valuing the company at 4.68 billion rupees $91.2 million.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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Aptech's business has not grown as widely as rival NIIT Ltd., which has expanded beyond its home market of India.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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Billionaire investor Mr. Jhunjhunwala, currently Aptech's chairman, didn't immediately respond to requests for comment.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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Mr. Jhunjhunwala's plan to exit the company comes at a time when growing competition is forcing a shakeout in India's crowded technology and related sectors, where smaller firms like Aptech are struggling to compete with their larger peers in an increasingly challenging operating environment.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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Also, increasing investments by software majors such as Infosys Ltd. and Tata Consultancy Services Ltd. to hire and train inexperienced graduates in software technologies has undermined demand for specialist computer training firms like Aptech and NIIT, say experts.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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MUMBAI -- Rakesh Jhunjhunwala and his family, the largest shareholders of Aptech Ltd., are planning to sell their more than 32% stake in the education service provider and have hired Avendus Capital Pvt. Ltd. to manage the deal, two people familiar with the matter said Monday.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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Aptech, founded by Atul Nishar in 1986, is India's oldest computer technology education services provider.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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Aptech's stock is down more than 28% in the year so far, while NIIT is off more than 15% in the same period, with the benchmark Sensex declining over 18%.
Aptech Chairman Jhunjhunwala, Family Plan to Sell Stake Kenan Machado 2011
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