TeamLease Services, which is engaged in staffing and human resources provider, hit a lifetime high today at Rs.1953. It has come off the highs but remains 15% up at Rs.1914 levels.

The stock surged after it announced today morning that it has signed an agreement to buy a 40% stake in Schoolguru Eduserve, which is an online learning company, working with some 18 universities.

This was acquired for an enterprise value of Rs.43 crore.

TeamLease has gone public two years ago and it had offered shares at Rs.850/share. Today, the IPO shareholders have more than doubled their money in two years.