Career Point gains after inking six agreements in tutorial division

Career Point rose 3.10% to Rs 116.50 at 12:15 IST on BSE after the company said it inked six new agreements in tutorial division.

The announcement was made during trading hours today, 28 August 2017.

Meanwhile, the S&P BSE Sensex was up 191.48 points, or 0.61% to 31,787.54.

On the BSE, 1.93 lakh shares were traded in the counter so far, compared with average daily volumes of 13,055 shares in the past one quarter. The stock had hit a high of Rs 121.70 and a low of Rs 110 so far during the day. The stock hit a 52-week high of Rs 141.75 on 26 October 2016. The stock hit a 52-week low of Rs 85.20 on 13 July 2017.

The stock had outperformed the market over the past one month till 24 August 2017, rising 6.35% compared with 2.43% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.52% as against Sensex's 1.83% rise. The scrip had underperformed the market in past one year, rising 5.56% as against Sensex's 13.51% rise.

The small-cap company has equity capital of Rs 18.13 crore. Face value per share is Rs 10

Career Point announced that it signed six new agreements in tutorial division including three school association projects and three new franchisee centers at multiple locations. The school association projects are with different prestigious and renowned institutions including ISRO (Indian Space Research Organization) at Sriharikota (Andhra Pradesh), a unit of Indian Army at Mathura (UP) and Gramonnati Mandal at Narayangaon (Maharashtra). New franchisee centers are located at New Delhi, Patiala (Punjab) and Bhubaneswar (Orisa). The new partnerships are aimed to provide best-in-class tutorial services of Career Point to students at these institutions preparing for pre-engineering, pre-medical and other competitive examinations, the company said in a statement.

Ona consolidated basis, Career Point's net profit rose 105.01% to Rs 6.95 crore on 25.53% increase in net sales to Rs 22.62 crore in Q1 June 2017 over Q1 June 2016.

Career Point caters to the needs of a student throughout the lifecycle of a student (KG to PhD) while operating in both formal and informal education streams.

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