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      Everonn Education hits the roof

      MoM Team / Mumbai, Aug 19, 2015 09:51 AM IST

        Everonn Education hits the roof

        Everonn Education was locked at 20 percent upper circuit at Rs 33.05 at 09:42 IST on BSE after the company's board proposed conversion of loan into equity through preferential allotment of shares to promoter group.

        The announcement was made after market hours yesterday, 18 August 2015.

        Meanwhile, the BSE Sensex was down 19.54 points, or 0.07 percent, to 27,812

        On BSE, so far 2.24 lakh shares were traded in the counter, compared with an average volume of 50,261 shares in the past one quarter.

        The stock hit a high of Rs 33.05 and a low of Rs 28 so far during the day. The stock hit a 52-week high of Rs 47.20 on 31 October 2014. The stock hit a record low of Rs 19.10 on 12 June 2015.

        The small-cap company has an equity capital of Rs 24.05 crore. Face value per share is Rs 10.

        Everonn Education announced that the company's board of directors at its meeting held yesterday, 18 August 2015 has proposed the conversion of loan into equity by preferential allotment of equity shares to the promoter group. Total promoter holding in the company stood at 61.94 percent (as per the shareholding pattern as on 30 June 2015).

        Everonn Education reported net loss of Rs 13.47 crore in Q1 June 2015, lower than net loss of Rs 18.20 crore in Q1 June 2014. Net sales declined 29.7 percent to Rs 6.07 crore in Q1 June 2015 over Q1 June 2014.

        Everonn has been a leading presence in the Indian education industry for over two decades and as India's first education and training company to offer satellite-enabled learning.


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      Source: Capital Market



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