Educomp rises on fund-raising plan

DALAL STREET SPIKES

Educomp Solutions shares rose 13.38 per cent to close at Rs 3,902.85 a share on its board’s approval to raise funds. Educomp plans to raise Rs 607 crore by issuing 16.2 lakh shares at Rs 3,745 a share through private placement of shares with qualified institutional buyers.

The stock opened at Rs 3,480 and made an intraday high of Rs 3,984 and a low of Rs 3,474. A total of Rs 8.85 lakh shares changed hands. The stock has registered a 52-week high of Rs 4,590 (July 3, 2009) and a low of Rs 1,331 (February 6, 2009).