Educomp Solutions has soared 5% to Rs 197 on receiving a sanction of Rs 410 crore towards buy out of its receivables from one of the leading public sector banks.
“This validates the acceptance of our securitisation program at reduced recourse as well as high credit of school receivables. The company is also expecting sanctions from other banks towards the securitisation program in due course. The sanction comes at a limited recourse of 20%,” the company engaged in education business said in a filing to the stock exchanges.
The stock opened at Rs 189 and hit a high of Rs 198 after the announcement on the Bombay Stock Exchange (BSE). A combined volume of 1.35 million shares have changed hands on the counter till 1130 hours on both the exchanges.
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 →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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