Education shares rally on huge volumes

Shares of companies engaged in delivering education on information technology platform are in limelight on the bourses. Infinite Computer Solutions (India), Everonn Education and Aptech have rallied more than 10% each on the back of huge volumes.

Everonn Education has surged 14% to Rs 452, extending its Monday’s 20% gain, after the Reserve Bank of India allowed the company to increase foreign institutional investment (FII) limit in the company up to 24%.

The company has already got shareholder approval to enhance the limit for purchase of its equity shares and convertible debentures by NRIs/PIOs through primary market and stock exchanges up to 24% of its paid up capital, under the Portfolio Investment Scheme.

Infinite Computer Solutions (India) has locked upper circuit filter of 20% at Rs 74.40 on the National Stock Exchange. A combined 56,928 shares have already changed hands on the counter so far and there are pending buy orders for 30,342 shares on the NSE and BSE.

Aptech Limited too, frozen at 20% upper circuit of Rs 90.70. The trading volumes on the counter more than doubled. As many as 1.85 million shares have changed hands so far, against an average around 570,000 shares that were traded daily in past two weeks.

NIIT, Educomp Solutions and Zee Learn are few other stocks in the education space trading higher in the range of 3-5% on the BSE.