MT Educare recovers on bargain hunting

MT Educare rose 2.11% to Rs 79.80 at 14:33 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 165.30 points or 0.57% at 29,402.45. The BSE Small-Cap index was up 95.62 points or 0.68% at 14,166.90.

On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 95,551 shares in the past one quarter. The stock had hit a high of Rs 81.45 so far during the day. The stock hit a low of Rs 77.80 so far during the day, which is a 52-week low for the counter.

The stock had hit a record high of Rs 199.30 on 17 May 2016. It had underperformed the market over the past one month till 27 March 2017, sliding 17.69% compared with the Sensex's 1.47% rise. The scrip had also underperformed the market over the past one quarter, declining 30.69% as against the Sensex's 11.53% rise.

The small-cap company has equity capital of Rs 39.82 crore. Face value per share is Rs 10.

Shares of MT Educare had fallen 9.28% in the preceding five trading sessions to settle at Rs 78.15 yesterday, 27 March 2017, from its close of Rs 86.15 on 20 March 2017.

On consolidated basis, MT Educare reported net loss of Rs 4.44 crore in Q3 December 2016 as against net profit of Rs 7.84 crore in Q3 December 2015. Net sales declined 18.2% to Rs 41.60 crore in Q3 December 2016 over Q3 December 2015.

MT Educare is one of the leading education support and coaching services provider in school, science and commerce streams across Maharashtra and has operations in other states like Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Karnataka, Punjab, Haryana, Assam, Uttar Pradesh and Gujarat.

Powered by Capital Market - Live News