 "MT Educare surges ahead of board meet for fund raising")
MT Educare has surged 9% to Rs 157 on the NSE ahead of the board meeting tomorrow to consider a proposal to raise funds through qualified institutional placement (QIP).
The stock hit a high of Rs 158 so far. A combined 282,612 shares changed hands on the counter on the BSE and NSE.
“The board of directors of the company engaged in education business will meet on January 20, 2016, to consider the proposal of raising funds by way of qualified institutions placement and holding of extra ordinary general meeting for obtaining shareholders' approval for further fund raising through qualified institutions placement,” MT Educare said in BSE filing.
Post September 2015 quarter results, between November 5, 2015 and January 1, 2016 the stock rallied 40% as compared to 6% decline in Nifty 50 index before falling over 20% in past one week. The stock declined 24% since January 11, against 3% fall in the benchmark index.
The company last month launched its Robmate+ App in co-ordination with Global Education Trust (GET) its CSR partner.
The stock hit a high of Rs 158 so far. A combined 282,612 shares changed hands on the counter on the BSE and NSE.
“The board of directors of the company engaged in education business will meet on January 20, 2016, to consider the proposal of raising funds by way of qualified institutions placement and holding of extra ordinary general meeting for obtaining shareholders' approval for further fund raising through qualified institutions placement,” MT Educare said in BSE filing.
Post September 2015 quarter results, between November 5, 2015 and January 1, 2016 the stock rallied 40% as compared to 6% decline in Nifty 50 index before falling over 20% in past one week. The stock declined 24% since January 11, against 3% fall in the benchmark index.
The company last month launched its Robmate+ App in co-ordination with Global Education Trust (GET) its CSR partner.
Robmate+ is App containing recorded video lectures by expert facilities and is available online, which help students revise and sharpen concepts by viewing lectures, repeatedly to their satisfaction.
MT Educare is an education support and coaching services provider for students in the secondary and higher secondary school and for students pursuing graduation degree in commerce, preparing for various competitive examinations and undertaking chartered accountancy examinations.
MT Educare is an education support and coaching services provider for students in the secondary and higher secondary school and for students pursuing graduation degree in commerce, preparing for various competitive examinations and undertaking chartered accountancy examinations.
