Tree House Education & Accessories was locked at 10% upper circuit at Rs 202.40 at 13:07 IST on BSE, with the stock extending Wednesday's sharp rally triggered by Morgan Stanley's bulk buying of shares in the company.
Meanwhile, the S&P BSE Sensex was down 171.14 points or 0.66% at 25,946.71.
The stock galloped on massive volumes. On BSE, so far 41.21 lakh shares were traded in the counter as against average daily volume of 35,531 shares in the past one quarter.
The stock opened with an upward gap surging by the maximum permissible level of 10% and remained locked at 10% level at Rs 202.40 so far during the day. The stock had hit a record high of Rs 548 on 16 February 2015. The stock had hit a 52-week low of Rs 138.10 on 1 December 2015.
The stock had underperformed the market over the past one month till 2 November 2015, sliding 31.06% compared with Sensex's 1.66% fall. The scrip had also underperformed the market in past one quarter, declining 52.95% as against Sensex's 2.61% rise.
The small-cap company has equity capital of Rs 42.31 crore. Face value per share is Rs 10.
Also Read
Shares of Tree House Education & Accessories have rallied 20.98% in two trading sessions from Rs 167.30 on 1 December 2015, after Morgan Stanley Asia (Singapore) Pte bought 2.40 lakh shares of the company at Rs 166.56 per share in a bulk deal on the NSE on 1 December 2015. The stock had surged by the maximum permissible level of 10% to settle at Rs 184 yesterday, 2 December 2015.
Macquarie Fund through its two schemes sold a total of 11.94 lakh shares of Tree House Education & Accessories at an average price of Rs 160.69 per share in bulk deals on the NSE on 1 December 2015.
Tree House Education & Accessories' net profit rose 1.2% to Rs 12.74 crore on 15.1% growth in net sales to Rs 57.25 crore in Q2 September 2015 over Q2 September 2014.
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.
Powered by Capital Market - Live News