Educomp Solutions spurts after subsidiary completes sale of property

Educomp Solutions jumped 8.17% to Rs 13.63 at 11:23 IST on BSE after the company's subsidiary completed the sale of its land and building.

The announcement was made after market hours on Tuesday, 5 July 2016. The stock market was closed yesterday, 6 July 2016 for a public holiday.

Meanwhile, the BSE Sensex was up 25.23 points, or 0.09%, to 27,192.10

On BSE, so far 5.86 lakh shares were traded in the counter, compared with average daily volume of 2.08 lakh shares in the past one quarter. The stock hit a high of Rs 14.20 and a low of Rs 13.30 so far during the day. The stock hit a 52-week high of Rs 18.25 on 5 January 2016. The stock hit a record low of Rs 9.50 on 6 July 2015. The stock had outperformed the market over the past 30 days till 5 July 2016, rising 6.96% compared with Sensex's 1.45% rise. The scrip, however, underperformed the market in past one quarter, gaining 7.05% as against Sensex's 9.1% rise.

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

Educomp Solutions said that the company's subsidiary, Educomp Infrastructure & School Management, has completed the sale of its land and building. It may be recalled that on 28 December 2015, Educomp Solutions had said Educomp Infrastructure & School Management has executed agreements to sell one of its land and building to third party.

Educomp Solutions' consolidated net loss of Rs 150.89 crore in Q4 March 2016, lower than net loss of Rs 153 crore in Q4 March 2015. Net sales declined 5.71% to Rs 112.60 crore in Q4 March 2016 over Q4 March 2015.

Educomp Solutions is the largest education company in India and the only company spread across the entire education ecosystem.

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