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

Nifty holds 8,000 mark; L&T, Hero Moto top gainers

The market breadth in BSE remains firm with 1,527 shares advancing and 654 shares declining

Alstom India gains on orders worth Rs 6,320 crore

Alstom India has surged 2% after winning contracts worth 800 million euros (approx Rs 6,320 crore) to build high-voltage direct current power ...

Wockhardt gains 5% post USFDA fast-tracks nod for anti-infection drugs

The company has received QIDP status from the USFDA for two of its drugs, WCK 771 and WCK 2349.

Markets likely to open firm; 5 stocks to be in focus

Markets are likely to see a positive opening today following increase in the country's growth rate in June quarter

Gold imports on the rise ahead of festive season

Jewellery demand expected to normalise; investment demand still low

Back to Top