 "Tree House Education rebounds from 52-week low post business update")
Tree House Education & Accessories has moved higher by 10% to Rs 167, bouncing back 21% from its early morning low on the BSE after the company said that it has successfully received all amounts related to preschools and franchise operations that were outstanding as on 30th September 2015.
Currently, outstanding receivables stand at Rs 27 crore as compared to Rs 63 crore as of 3Oth September 2015, Tree House Education said in a BSE filing.
The management is focused on continuing its aggressive collection strategy, expected to further reduce debtors from this level, it added.
“We reiterate that business growth remains healthy and progressing as per our plan and we are on schedule with our preschool expansion strategy,” Tree House said.
The stock hit a 52-week low of Rs 138 in an intra-day trade. It fell 40% in past two weeks from Rs 252 on November 17 to Rs 152 yesterday.
The counter has seen huge trading volumes with a combined 4.41 million shares have already changed hands till 10:00 AM, as compared to sub one million shares traded daily in past two weeks on the BSE and NSE.
Currently, outstanding receivables stand at Rs 27 crore as compared to Rs 63 crore as of 3Oth September 2015, Tree House Education said in a BSE filing.
The management is focused on continuing its aggressive collection strategy, expected to further reduce debtors from this level, it added.
“We reiterate that business growth remains healthy and progressing as per our plan and we are on schedule with our preschool expansion strategy,” Tree House said.
The stock hit a 52-week low of Rs 138 in an intra-day trade. It fell 40% in past two weeks from Rs 252 on November 17 to Rs 152 yesterday.
The counter has seen huge trading volumes with a combined 4.41 million shares have already changed hands till 10:00 AM, as compared to sub one million shares traded daily in past two weeks on the BSE and NSE.
