Everonn Education is up almost 4% currently at Rs.26.60, closer to intra day high levels. Volumes are good at 10,000 shares today compared to 12,000 shares over two weeks average.

The stock is up after the company announced that its Board has approved a debt restructuring plan through a scheme of arrangement with the creditors. The company has consistently been reporting a very poor performance and in Q1FY14, on a 84% (YoY) decline in net revenue at Rs.10.46 crore, posted a net loss at Rs.23 crore. At the end of FY13, the company was sitting on debt of around Rs.600 crore.