Investors should avoid Aptech, says Phani Sekhar

Phani Sekhar, Fund Manager of Angel Broking told CNBC-TV18, “The recent rally in the Aptech is more because of the indications of a buyback. Independent of what happen on the corporate action side there is nothing much happening on the core business side and nothing much is expected as well because the entire paradigm for this business has changed about 4-5 years back and something which Aptech is finding very difficult to adjust to. So, the challenges will keep mounting as time passes by. So, that is the fundamental reason for the huge underperformance of the stock. I think it will be a good idea for the investor to cut losses as soon as possible and look at other greener pastures.”