Tree House Education, Zee Learn spurts after board's nod for consolidation

Tree House Education & Accessories and Zee Learn surged by 7.05% to 10% at 10:01 IST on BSE after these firms separately announced that their respective boards have accorded in-principle approval for exploring consolidation options between the firms.

The two companies separately made the announcement during market hours today, 4 December 2015.

Tree House Education & Accessories was locked at 10% upper circuit at Rs 222.60. Shares of Zee Learn spurted 7.05% at Rs 45.55.

Meanwhile, the S&P BSE Sensex was down 168.92 points or 0.65% at 25,717.70.

Tree House Education & Accessories and Zee Learn board of directors at their respective board meetings held today, 4 December 2015, accorded in-principle approval for exploring consolidation options between the two companies.

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. The company's 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.

Zee Learn is a leading child development and education company in India. The company's net profit declined 5.3% to Rs 1.08 crore on 34.9% growth in net sales to Rs 30.70 crore in Q2 September 2015 over Q2 September 2014.

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