Educomp zooms into green

Educomp is on the rise today. With good volumes, the stock is up over 4% at Rs.33.85 and this is after an almost 105 surge the moment it opened at Rs.35.75. Its 52-week high is at Rs.43.30.

The stock rose as some more unconfirmed news came on the proposed sale of school business. This time the rumour mill is naming the Aditya Birla Group. Previously named were Zee Learn and GEMS Education.

This school business is also debt heavy at around Rs.900 crore and through this sale, it hopes to earn around Rs.1500 crore. This, many say is too high a valuation and the final price might come in much lower.

As of now, the company denies the news of Aditya Birla group taking over this business and also refutes its intent of selling the school business