Tree House Education spurts as Morgan Stanley purchases bulk shares

Tree House Education & Accessories was locked at 10% upper circuit at Rs 184 at 11:50 IST on BSE after Morgan Stanley Asia (Singapore) Pte bought 2.40 lakh shares at Rs 166.56 per share in a bulk deal on the NSE yesterday, 1 December 2015.

Meanwhile, the S&P BSE Sensex was down 77.20 points or 0.3% at 26,092.21.

On BSE, so far 39,000 shares were traded in the counter as against average daily volume of 33,774 shares in the past one quarter.

The stock hit a low of Rs 176.85 so far during the day. The stock had hit a 52-week low of Rs 138.10 yesterday, 1 December 2015. The stock had hit a record high of Rs 548 on 16 February 2015.

The stock had underperformed the market over the past one month till 1 December 2015, sliding 39.27% compared with Sensex's 1.83% fall. The scrip had also underperformed the market in past one quarter, declining 57.11% as against Sensex's 1.84% rise.

The small-cap company has equity capital of Rs 42.31 crore. Face value per share is Rs 10.

Macquarie Fund through its two schemes sold a total of 11.94 lakh shares of Tree House Education & Accessories at an average price of Rs 160.69 per share in bulk deals on the NSE yesterday, 1 December 2015.

Tree House Education & Accessories' net profit rose 1.2% to Rs 12.74 crore on 15.1% growth in net sales to Rs 57.25 crore in Q2 September 2015 over Q2 September 2014.

Tree House Education & Accessories is one of the leading providers of educational services in India. It operates the largest number of self-operated pre-schools in India.

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