Union Budget: Education stocks zoom with the introduction of an innovation fund for secondary education

Post emphasising on the agricultural sector, the Finance Ministry pin pointed the Education sector. Government will be setting up an innovation fund for secondary education.

Feb 01, 2017 06:02 IST India Infoline News Service

Post emphasising on the agricultural sector, the Finance Ministry pin pointed the Education sector.

Government will be setting up an innovation fund for secondary education.

Setting up of national testing agencies to match with the world class testing standards will relax the burden that currently the CBSE board shoulders as far as honing educational skills is concerned.

Government will also propose to leverage ICT (Information Communication Technology) with the launch of the "Swayam" platform that offers 350 free courses.

The stocks of Educomp Solutions and Career Point surged 3% plus and nearly 2% respectively with the announcement.

Tree House Education Accessories too soared 2.3% on the news

Stock view:

Tree House Education & Accessories Ltd is currently trading at Rs 22.4, up by Rs 0.45 or 2.05% from its previous closing of Rs 21.95 on the BSE.

The scrip opened at Rs 22.8 and has touched a high and low of Rs 22.85 and Rs 22.2 respectively. So far 137140(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 92.87 crore.

The BSE group 'T' stock of face value Rs 10 has touched a 52 week high of Rs 146.15 on 04-Feb-2016 and a 52 week low of Rs 15.85 on 28-Dec-2016. Last one week high and low of the scrip stood at Rs 22 and Rs 20.5 respectively.

The promoters holding in the company stood at 20.54 % while Institutions and Non-Institutions held 10.53 % and 68.93 % respectively.

The stock is currently trading below its 200 DMA.

Related Story