Business Standard

MT Educare rises on acquisition of IIT training institute

The company agrees to acquire 51% stake in Lakshya, a leading North India based IIT entrance teaching institute for an undisclosed amount.

Related News

MT Educare is trading higher by 6% to Rs 132.25, extending its Friday’s 15% rally, after the company which owns the Mahesh Tutorials brand said that it has agreed to acquire 51% stake in Lakshya, a leading North India based IIT entrance teaching institute for an undisclosed amount.

“The total consideration will be paid by the company over a period of next 3 years and is dependent on certain milestones to be achieved by Lakshya. The agreement gives an option to the company to buy 100% stake in up to 30th June 2018,” MT Educare, an support and coaching services provider said in a press release.

The stock is currently trading at its highest level since listing on 12th April, 2012. The company had raised Rs 35 crore by issuing 4.37 million shares at price of Rs 80 per share through public issue.

The stock opened at Rs 127 and has seen huge trading activities on the counter. A combined 4.86 million shares have already changed hands so far against an average sub 2 million shares that were traded daily in past ten trading days.

 

Read more on:   
|
|

Read More

BSE launches carbon index

Premier bourse BSE, in collaboration with the UK government, today launched BSE Carbonex, the first-of-its-kind index in India or any emerging market ...

Quick Links

 

Market News

Sensex holds 26,400; Tata Motors, Hindalco up 4%

Markets continued to trade firm in late deals led by oil and financials along with select auto and metal shares

Gold futures down 0.1% on weak global cues

Participants offloaded partial positions amid weak cues from the global market

Silver futures up 0.2% on global cues

A recovery in the global market mainly influenced silver prices

Mentha oil up 0.3% on rising demand

Oil for delivery in October edged up by 0.15%

Copper falls by 0.3% on global cues

Speculators reduced their positions amid weak overseas cues and subdued domestic demand

Back to Top