Career Point surges after skill development pact with Rajasthan govt

Career Point jumped 7.07% to Rs 144.70 at 10:36 IST on BSE after the firm said it has executed an MoU with Rajasthan Skills and Livelihood Development Corporation to cater needs of skill development and training opportunities.

The announcement was made before market hours today, 29 December 2014.

Meanwhile, the S&P BSE Sensex was up 196.45 points or 0.72% at 27,438.23.

On BSE, so far 1.50 lakh shares were traded in the counter as against average daily volume of 40,000 shares in the past two weeks.

The stock hit a high of Rs 151.90 and a low of Rs 137.90 so far during the day.

Commenting on the development Mr. Pramod Maheshwari, CMD, Career Poitn said, "We are very pleased with execution of the MoU and excited with the partnership with Government of Rajastha. Career Point appreciates the state government for recognizing its credentials and providing the opportunity to work in the area of skill development. We understand the huge demand for vocational education and the enormous gap in employability skills across different sectors. We are confident to put together a financially viable and sustainable venture with the government to align business and social needs in the this field".

Career Point reported a consolidated net loss of Rs 2.06 crore in Q2 September 2014 compared with net profit of Rs 1.86 crore. Net sales declined 1.5% to Rs 16.70 crore in Q2 September 2014 over Q2 September 2013.

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

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