Educomp Solutions jumps on plans to consider restructuring options

Educomp Solutions jumped 5.83% to Rs 28.15 at 10:35 IST on BSE after the company said that meeting of the board of directors of the company will be held on 13 January 2015, to consider restructuring options pursuant to the CDR Scheme.

The company made announcement after market hours yesterday, 8 January 2015.

Meanwhile, the BSE Sensex was up 185.89 points, or 0.68%, to 27,460.60.

On BSE, so far 2.88 lakh shares were traded in the counter, compared with an average volume of 1.61 lakh shares in the past one quarter.

The stock hit a high of Rs 28.95 and a low of Rs 27.80 so far during the day. The stock hit a 52-week high of Rs 43.30 on 13 June 2014. The stock hit a 52-week low of Rs 21.95 on 13 February 2014.

The stock had outperformed the market over the past one month till 8 January 2015, falling 2.21% compared with 3% fall in the Sensex. The scrip had however underperformed the market in past one quarter, declining 9.22% as against Sensex's 3.92% rise.

The small-cap education providing company has an equity capital of Rs 24.49 crore. Face value per share is Rs 2.

Educomp Solutions said that meeting of the board of directors of the company will be held on 13 January 2015, to consider and approve to issue equity shares of the company, as per CDR Scheme of the company, in accordance with SEBI (ICDR) Regulations, 2009 and to consider restructuring options pursuant to the CDR Scheme.

Educomp Solutions reported consolidated net loss of Rs 567.20 crore in Q2 September 2014 compared with consolidated net loss of Rs 82.67 crore in Q2 September 2013. Total income fell 11.9% to Rs 151.55 crore in Q2 September 2014 over Q2 September 2013.

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