Tree House Education jumps 18.7%

As per the new merger scheme, shareholders of Tree House will get shares in Zee Learn in ratio of 1:1.

Aug 17, 2016 05:08 IST India Infoline News Service

Tree House
Tree House Education & Accessories Ltd is currently trading at Rs. 36.6, up by Rs. 5 or 15.82% from its previous closing of Rs. 31.6 on the BSE  after company gets approval for merger with Zee Learn. As per the new merger scheme, shareholders of Tree House will get shares in Zee Learn in ratio of 1:1.

Tree House said that the merger evaluation committee, formed in June by the companies, has approved of the new share swap ratio.

The scrip opened at Rs. 32 and has touched a high and low of Rs. 37.3 and Rs. 32 respectively. So far 1706025(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 133.7 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 437.5 on 20-Aug-2015 and a 52 week low of Rs. 31.15 on 16-Aug-2016. Last one week high and low of the scrip stood at Rs. 37.8 and Rs. 31.15 respectively.

The promoters holding in the company stood at 20.54 % while Institutions and Non-Institutions held 21.84 % and 56.99 % respectively.

The stock is currently trading below its 200 DMA.

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