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 ...

Advertisements

Quick Links

 

Market News

Maruti Suzuki India, Axis Bank joins Rs 1-lakh-cr market-cap club

Axis Bank hits a record high of Rs 440, while Maruti Suzuki touched a new high of Rs 3,349 in intra-day deals on BSE.

Marksans Pharma surges on strong Q2 results

The stock rallied 6% to Rs 64 on NSE after reporting 56% yoy growth in net profit at Rs 31 crore in September quarter.

Markets continue winning streak; Sensex up 400 points

The 30-share Sensex is up 412 points at 27,758 and the 50-share Nifty has gained 119 points to trade at 8,288.

Copper down 0.2% on weak global cues

Metal for delivery in November shed 0.14%

Silver down 0.6% on weak global trend

Weak trend trend overseas, eroding demand for the precious metals, pulled down silver prices

Back to Top