Zee Learn climbs the green "Tree House"

Zee Learn hit a new 52-week high today at Rs.46.80 with volumes jumping up over 6 times. Tree House Education breached the 10% upper circuit at Rs.222.60.

Both these education stocks are up on news that Zee Learn, at its Board Meeting held today, is looking at the option of consolidation. Both the Boards have given an in-principle approval for exploring this option. Tree House and Zee Learn said that they both have individually, constituted and authorized a committee to finalise the proposed consolidation and take all necessary steps including appointment of necessary consultants.

This week, Tree House had announced that it had successfully received all amounts related to preschools and franchise operations that was outstanding as on 30th September 2015.

Meanwhile, promoters of Tree House sold 9.5% stake through open market transactions at an average price of Rs.200.50/share. Thus promoters stake now stands at 52.13% down from 61.63% at end of Q2.