Tree House Education hits 52-week low
The stock was down 9% to Rs 298, extending its previous day's 5% decline on the BSE.
 "Tree House Education hits 52-week low")
Tree House Education and Accessories have dipped 9% to Rs 298, extending its previous day’s 5% decline on the BSE, in otherwise firm market in noon deal.
The stock hit a low of Rs 270, also its 52-week low on the BSE. The trading volumes on the counter more than doubled with a combined 249,529 shares changed hands on the BSE and NSE till 01:56 pm.
According to Business Standard reports, proxy advisory Stakeholders’ Empowerment Services (SES) has raised concerns over high levels of trade receivables in the company's balance sheet. CLICK HERE TO READ FULL REPORT.
However, on clarification of news report, the company said that the points raised by the proxy advisory firm is based on their understanding and is devoid of practical business realities and our revenue receipts sources.
“This has reference to the press article sighting a Queries on the Account receivables for the just concluded FY 2015. We wish to place on record as also for the benefit of members that the financials of Tree House Education and Accessories Limited have been audited and adopted by the board after a detailed and careful review of its true and fair position. We wish to confirm that the nature of receivables is consistent with the business practice,” Tree House Education and Accessories said in a BSE statement.
The stock hit a low of Rs 270, also its 52-week low on the BSE. The trading volumes on the counter more than doubled with a combined 249,529 shares changed hands on the BSE and NSE till 01:56 pm.
According to Business Standard reports, proxy advisory Stakeholders’ Empowerment Services (SES) has raised concerns over high levels of trade receivables in the company's balance sheet. CLICK HERE TO READ FULL REPORT.
However, on clarification of news report, the company said that the points raised by the proxy advisory firm is based on their understanding and is devoid of practical business realities and our revenue receipts sources.
“This has reference to the press article sighting a Queries on the Account receivables for the just concluded FY 2015. We wish to place on record as also for the benefit of members that the financials of Tree House Education and Accessories Limited have been audited and adopted by the board after a detailed and careful review of its true and fair position. We wish to confirm that the nature of receivables is consistent with the business practice,” Tree House Education and Accessories said in a BSE statement.