Everonn Education hits 20% upper circuit

The company announced its intention to initiate legal proceedings against individuals involved in alleged accounting fraud.

Jun 15, 2015 10:06 IST India Infoline News Service

Everonn Education was locked at the 20 percent upper circuit at Rs. 24.05 after the company announced its decision to initiate legal proceedings against Kishore (former Managing Director), Nikhil Gandhi (former Director and promoter of SKIL Infrastructure, a company forming part of the promoter Group of Everonn Education) and various other individuals and entities on account of the fraudulent transactions/ activities undertaken by them or at their behest against the company.

The stock has hit a high of Rs. 24.05 and low of Rs. 19.90 on BSE today. The total traded quantity was 0.86 lakh shares and two-week average quantity is 0.14 lakh.

On Monday, the BSE index thereafter bounced back into the positive zone and firmed up as the day progressed. The index touched a high of 26,729 - up 421 points from the day's low.

The Sensex finally ended with a gain of 161 points at 26,587. HDFC and Sun Pharma contributed more than one-third of the day's gain.

The NSE Nifty after languishing below the 8,000-mark in the preceding two trading sessions, today bounced back to hit a high of 8,058. The Nifty eventually ended with a gain of 31 points at 8,014.

The India VIX (Volatility) index was up 0.3 percent at 17.525.

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