Shares of companies engaged in education business such as NIIT, Educomp Solutions, Everonn Education and Aptech have rallied up to 9% on the bourses after the Finance Minister P. Chidambaram in the 2013-14 Budget proposed higher allocations for the education sector.
“The government proposed to allocate Rs 65,867 crore to the Ministry of Human Resource Development, which is an increase of 17% over the RE of the previous year,” the Finance Minister said in its budget speech.
“The Sarva Shiksha Abhiyan (SSA) and the Right to Education Act are firmly in place. I propose to provide Rs 27,258 crore for SSA in 2013-14,” he added.
Among the individual stocks, Everonn Education has rallied 9% to Rs 70.85, followed by NIIT (7% at Rs 25.25), Educomp Solutions (4% at Rs 88) and Aptech (3% at Rs 49.05) on BSE.
“The government proposed to allocate Rs 65,867 crore to the Ministry of Human Resource Development, which is an increase of 17% over the RE of the previous year,” the Finance Minister said in its budget speech.
“The Sarva Shiksha Abhiyan (SSA) and the Right to Education Act are firmly in place. I propose to provide Rs 27,258 crore for SSA in 2013-14,” he added.
Among the individual stocks, Everonn Education has rallied 9% to Rs 70.85, followed by NIIT (7% at Rs 25.25), Educomp Solutions (4% at Rs 88) and Aptech (3% at Rs 49.05) on BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%