MT Educare rises 14%

MT Educare rose almost 14% to Rs.92.95, reporting some good surge in volumes. As against a 2W average volume of 1.94 lakh shares, today almost 3 lakh shares changed hands in the morning.

The stock price has increased on unconfirmed news that Zee Learn is close to buying a controlling stake in MT Educare or Mahesh Tutorials as it is better recognized.

The news is that Zee might buy the entire promoters stake of 42.78% for Rs.140 crore and will then, as per SEBI rules, go on to make an open offer for another 20% stake.