S Chand jumps after HDFC MF buys stake

S Chand & Company rose 6.26% to Rs 483.60 at 10:22 IST on BSE after HDFC Mutual Fund bought 2.96 lakh shares, or 0.85% equity, of the company at Rs 455 each on NSE yesterday, 23 October 2017.

Meanwhile, the S&P BSE Sensex was up 134.54 points, or 0.41% to 32,641.26.

On the BSE, 13,000 shares were traded in the counter so far, compared with average daily volumes of 20,053 shares in the past one quarter. The stock had hit a high of Rs 487.50 and a low of Rs 464.10 so far during the day. The stock hit a record high of Rs 707 on 9 May 2017. The stock hit a record low of Rs 425 on 11 August 2017.

The stock had underperformed the market over the past one month till 23 October 2017, rising 0.82% compared with 1.83% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.85% as against Sensex's 0.86% rise.

The small-cap company has equity capital of Rs 17.42 crore. Face value per share is Rs 5.

As on 30 September 2017, HDFC Mutual Fund held 12.04 lakh shares, or 3.46% equity, of S Chand & Company.

S Chand & Company reported net loss of Rs 7.90 crore in Q1 June 2017, as compared with net loss of Rs 10.87 crore in Q1 June 2016. Net sales rose 86.11% to Rs 29.35 crore in Q1 June 2017 over Q1 June 2016.

S Chand & Company is a leading Indian education content company. The company delivers content, solutions and services across the education lifecycle through its K-12, higher education and early learning segments.

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