Heard on the Street: Educomp Solutions surges 7%
The shares of Educomp Solutions surged over 7% on Tuesday in a weak market, supported by heavy volumes that were nine times the two-week average.
By ET Bureau |
Educomp Solutions surges 7% in a weak market
The shares of Educomp Solutions surged over 7% on Tuesday in a weak market, supported by heavy volumes that were nine times the two-week average. Institutional investors lapped up the stock, which closed at Rs 550.60 on Tuesday.
According to brokers, foreign institution ‘Kala Patthar’ and select mutual funds were among the frontline buyers in the stock. The company’s net profit in the second quarter grew to Rs 75 crore from Rs 44.22 crore a year ago.
Total income decreased to Rs 210.80 crore from Rs 214.91 crore in the corresponding quarter last year. IDFC Securities upgraded the stock to ‘outperform’ from ‘neutral’ citing a highly profitable business model and strong execution track record as the key reasons.
— Contributed by Harish Rao
The shares of Educomp Solutions surged over 7% on Tuesday in a weak market, supported by heavy volumes that were nine times the two-week average. Institutional investors lapped up the stock, which closed at Rs 550.60 on Tuesday.
According to brokers, foreign institution ‘Kala Patthar’ and select mutual funds were among the frontline buyers in the stock. The company’s net profit in the second quarter grew to Rs 75 crore from Rs 44.22 crore a year ago.
Total income decreased to Rs 210.80 crore from Rs 214.91 crore in the corresponding quarter last year. IDFC Securities upgraded the stock to ‘outperform’ from ‘neutral’ citing a highly profitable business model and strong execution track record as the key reasons.
— Contributed by Harish Rao
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
