Everonn Education hit an upper circuit limit of 20% at Rs 24.05 at 14:33 IST on BSE after the company said it plans to initiate legal proceedings against its alleged corrupt officials.
The announcement was made during trading hours today, 15 June 2015.
Meanwhile, the BSE Sensex was up 197.86 points, or 0.75%, to 26,623.16.
On BSE, so far 85,000 shares were traded in the counter, compared with an average volume of 31,252 shares in the past one quarter.
The stock hit a high of Rs 24.05 and a low of Rs 19.90 so far during the day. The stock hit a 52-week high of Rs 64.30 on 13 June 2014. The stock hit a record low of Rs 19.10 on 12 June 2015.
The stock had underperformed the market over the past one month till 12 June 2015, falling 14.50% compared with 1.68% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 26.69% as against Sensex's 8.66% fall.
Also Read
The small-cap company has an equity capital of Rs 24.05 crore. Face value per share is Rs 10.
Everonn Education announced that it has decided to initiate legal proceedings against P. Kishore (former Managing Director), Nikhil Gandhi (former Director of the company and promoter of SKIL Infrastructure, a company forming part of the promoter Group of Everonn Education) and various other individuals and entities on account of the fraudulent transactions/activities undertaken by them or at their behest against the company.
Everonn Education reported net loss of Rs 28.74 crore in Q4 March 2015 as against net loss of Rs 53.13 crore in Q4 March 2014. Net sales declined 42.87% to Rs 5.85 crore in Q4 March 2015 over Q4 March 2014.
Everonn has been a leading presence in the Indian education industry for over two decades and as India's first education and training company to offer satellite-enabled learning. Everonn today reaches out to millions of students through thousands of learning centres across 27 states, works with several State Governments of India and is the largest VSAT education network in the World.
Powered by Capital Market - Live News