Education stocks rally as much as 12% in late morning trade

Following the announcement by Chidambaram, Everonn Education jumped by 11.80% to Rs 72.50

Shares of companies related to education sector surged as much as 12% today after Finance Minister P Chidambaram allocated Rs 65,867 crore to the HRD Ministry and said one overarching goal is to provide education and skills to youth for securing jobs in 2013-14.
 
Following the announcement, Everonn Education jumped by 11.80% to Rs 72.50, while Educomp Solutions spurted by 6.71% to Rs 90.60 on the BSE.
 
Among others, MT Educare was trading higher by 4.25%, Career Point (4.89%), Tree House Education & Accessories (2.02%) and Zee Learn (2.66%).
 
Similarly, shares of DMC Education climbed 6.64%, while ACE EDUTREND shot up by 3.46%.
 
The Finance Minister in his budget speech also said Rs 4,727 crore will be allocated for medical education and research Rs 1,069 crore will be given to Department of Ayush.
 
In the broader market, the BSE benchmark Sensex was trading at 19,183.84, up 31.43 points at 1148 hrs.