Sunday, December 21, 2014
Tree House Education & Accessories rose 1.53% to Rs 444.20 at 13:42 IST on BSE after the RBI advised that Registered Foreign Portfolios Investors can now invest up to 49% of the paid up capital of the company under the Portfolio Investment Scheme.
Meanwhile, the BSE Sensex was up 340.14 points, or 1.25%, to 27,466.71
On BSE, so far 14,089 shares were traded in the counter as against an average daily volume of 31,150 shares in the past one quarter.
The stock hit a high of Rs 464.80 and low of Rs 443 so far during the day. The stock had scaled a record high of Rs 520 on 13 October 2014. The stock had hit a 52-week low of Rs 214.20 on 7 March 2014.
The stock had outperformed the market over the past one month till 18 December 2014, falling 2.02% compared with 3.68% fall in the Sensex. The scrip, however underperformed the market in past one quarter, falling 3.43% as against Sensex's 0.05% rise.
The small-cap company has an equity capital of Rs 37.77 crore. Face value per share is Rs 10.
The Reserve Bank of India after market hours yesterday, 18 December 2014 advised that Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of Tree House Education & Accessories under the Portfolio Investment Scheme (PIS).
The RBI stated that Tree House Education & Accessories has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by RFPIs. The purchases could be made through primary market and stock exchanges, the RBI said.
Tree House Education & Accessories reported 9.8% rise in net profit to Rs 12.59 crore on 20.5% rise in net sales to Rs 49.76 crore in Q2 September 2013 over Q2 September 2012.
Tree House Education & Accessories is one of the leading providers of educational services in India. It operates the largest number of self-operated pre-schools in India.