Career Point surged 10.31% to Rs 130 at 12:52 IST on BSE after the company received Rs 35 crore in its wholly owned subsidiary Career Point Infra from Career Point University, Kota towards assets sale transaction.
The announcement was made after market hours yesterday, 20 October 2016.Meanwhile, the S&P BSE Sensex was down 107.99 points or 0.38% at 28,021.85
On BSE, so far 92,000 shares were traded in the counter as against average daily volume of 10,642 shares in the past one quarter. The stock hit a high of Rs 133.35 and a low of Rs 121 so far during the day. The stock had hit a 52-week high of Rs 160 on 2 December 2015. The stock had hit a 52-week low of Rs 94.50 on 17 February 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, gaining 10.24% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, advancing 1.68% as against Sensex's 1.17% rise.
The small-cap company has equity capital of Rs 18.13 crore. Face value per share is Rs 10.
Pramod Maheshwari, Chairman and Managing Director Career Point said that it was very strategic and vigilant decision for the company to enter in annuity driven formal education segment. The company's investments in formal education are being paid-off, Maheshwari said. At the same time, financing by the nationalized bank to the University indicates confidence in long-term prospects and financial steadiness of the University, he added.
On consolidated basis, Career Point's net profit rose 2.17% to Rs 2.35 crore on 0.85% decline in total income to Rs 19.82 crore in Q1 June 2016 over Q1 June 2015.
Career Point caters to the needs of a student throughout the life cycle of a student (KG to PhD) while operating in both formal and informal education streams.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
