MT Educare spurts after fund buying

MT Educare surged 5.34% to Rs 72.05 at 11:07 IST on BSE after a fund bought shares of the company in a bulk deal on NSE yesterday, 23 November 2017.

Meanwhile, the S&P BSE Sensex was up 96.34 points, or 0.29% at 33,684.42. The S&P BSE Small-Cap index was up 111.84 points, or 0.62% at 18,055.70.

On the BSE, 2.90 lakh shares were traded on the counter so far as against the average daily volumes of 30,483 shares in the past one quarter. The stock had hit a high of Rs 75.90 and a low of Rs 71.55 so far during the day. The stock had hit a 52-week high of Rs 139.40 on 25 January 2017. The stock had a 52-week low of Rs 53 on 17 November 2017.

The stock had outperformed the market over the past 30 days till 23 November 2017, rising 9.44% compared with 1.65% rise in the Sensex. The scrip had outperformed the market in past one quarter, gaining 9.62% as against Sensex's 6.30% rise. The scrip, however, underperformed the market in past one year, sliding 41.69% as against Sensex's 29.88% rise.

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

VISA CAPITAL PARTNERS bought 2.50 lakh shares of MT Educare at Rs 68.05 per share in a bulk deal on NSE yesterday, 23 November 2017. The stock had jumped 20% to settle at Rs 68.40 yesterday, 23 November 2017.

MT Educare's consolidated net profit fell 56.95% to Rs 2.29 crore on 4.01% decrease in net sales to Rs 78.73 crore in Q1 June 2017 over Q1 June 2016.

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.

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