Career Point surges on signing agreement with MSJE
Career Point is currently trading at Rs. 113.05, up by 2.40 points or 2.17% from its previous closing of Rs. 110.65 on the BSE.
The scrip opened at Rs. 110.30 and has touched a high and low of Rs. 118.85 and Rs. 110.30 respectively. So far 11074 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 141.75 on 26-Oct-2016 and a 52 week low of Rs. 100.05 on 30-Sep-2016.
Last one week high and low of the scrip stood at Rs. 118.85 and Rs. 109.55 respectively. The current market cap of the company is Rs. 205.63 crore.
The promoters holding in the company stood at 60.87%, while Institutions and Non-Institutions held 11.61% and 27.52% respectively.
Career Point, the country’s leading education and training player, has signed an agreement with Ministry of Social Justice and Empowerment (MSJE), Government of India for IIT-JEE and Pre-Medical coaching to SC and OBC students.
Under the agreement, the Ministry will fund the entire expenditure of coaching program to SC/OBC students selected by Career point as per terms of the scheme. The agreement, which will remain in effect for a period of three years, is executed to impart coaching (tutorial) services for preparation of (a) IIT-JEE & (b) Pre-Medical. Duration of the courses will be 10 months. The Government will also provide Stipend or Allowance to the students, in addition to the course fee.
Career Point caters to the needs of a student throughout the life cycle of a student (KG. to PhD.), while operating in both the Formal and Informal education streams. In the informal Education system, the company has established a strong niche in test preparation and school curriculum tutoring.