 "Tree House Education hits 52-week low on stake sale by Morgan Stanley")
Tree House Education & Accessories has tanked 18% to Rs 58.20, also its 52-week low on the National Stock Exchange (NSE), after Morgan Stanley, the foreign institutional investor reduced its stake in company through open market.
On Monday, May 30, 2016, Morgan Stanley Asia (Singapore) Pte had sold 216,026 equity shares of Tree House Education & Accessories at Rs 66.29 per share via bulk deal, the NSE data shows.
The name of the buyers not immediately ascertained.
Morgan Stanley Asia (Singapore) Pte held 1.31 million or 3.09% stake in Tree House Education as of March 31, 2016, shareholding data shows.
In past two trading sessions, the stock plunged 26% from Rs 78.80 on May 26 compared to a marginal 0.06% rise in the Nifty 50 index.
The company has reported a sharp 89% drop in net profit at Rs 6.78 crore in FY16 against Rs 60.88 crore in FY15. Ebitda (earnings before interest, taxes, depreciation and amortization) margin declined to 31.73% from 57.18%.
At 03:20 PM, the stock was down 15% at Rs 60.20 with a combined 2.85 million shares changing hands on the counter on the BSE and NSE.
On Monday, May 30, 2016, Morgan Stanley Asia (Singapore) Pte had sold 216,026 equity shares of Tree House Education & Accessories at Rs 66.29 per share via bulk deal, the NSE data shows.
The name of the buyers not immediately ascertained.
Morgan Stanley Asia (Singapore) Pte held 1.31 million or 3.09% stake in Tree House Education as of March 31, 2016, shareholding data shows.
In past two trading sessions, the stock plunged 26% from Rs 78.80 on May 26 compared to a marginal 0.06% rise in the Nifty 50 index.
The company has reported a sharp 89% drop in net profit at Rs 6.78 crore in FY16 against Rs 60.88 crore in FY15. Ebitda (earnings before interest, taxes, depreciation and amortization) margin declined to 31.73% from 57.18%.
At 03:20 PM, the stock was down 15% at Rs 60.20 with a combined 2.85 million shares changing hands on the counter on the BSE and NSE.
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