Everonn Education jumps as board to consider rights issue

Everonn Education jumped 4.13% to Rs 40.35 at 11:32 IST on BSE after the company said its board will meet on 15 May 2014, inter alia to consider offer of shares through rights issue.

The announcement was made before market hours today, 7 May 2014.

Meanwhile, the S&P BSE Sensex was down 90.70 points or 0.4% at 22,417.72.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 26,438 shares in the past one quarter.

The stock hit a high of Rs 42 and a low of Rs 40 so far during the day. The stock had hit a 52-week high of Rs 64.55 on 8 May 2013. The stock had hit a record low of Rs 21.60 on 7 August 2013.

The stock had underperformed the market over the past one month till 6 May 2014, sliding 8.39% compared with the Sensex's 0.67% rise. The scrip had also underperformed the market in past one quarter, advancing 8.7% as against Sensex's 10.82% rise.

The small-cap company has equity capital of Rs 22.96 crore. Face value per share is Rs 10.

Everonn Education reported a net loss of Rs 21.64 crore in Q3 December 2013, lower than net loss of Rs 129.27 crore in Q3 December 2012. Net sales declined 28.2% to Rs 11.22 crore in Q3 December 2013 over Q3 December 2012.

Everonn Education is a leading satellite-based education service provider.

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