Educomp Solutions (IT based education solution provider company) Stock saw a major selling pattern in last month; in this trend, this stock lost almost 47% and around Rs 1000 value in three weeks. Stock which was available for Rs 2400 a month back touched Rs 1300 level on stock market after ministry of corporate affairs announced checking of its accounts. This news caused panic in market and we saw a major selling trend in this stock. However, from last two days this stock is recovering very fast and already reached Rs 1891. Major buying in Educomp stocks started when Educomp told market that promoter shares are not pledged in anyway and they still hold 55% holding in company. Moreover, Educomp has also got Rs 1.2 billion worth orders from some state government for installing computer education programs in different schools.
Educomp 52 week High/low - RS 4,562.00 - 1,331.00
Present recommendation Buy between RS 1800-1900, short sell Rs 2200-2500.
Long Term target Rs 3200
Educomp 52 week High/low - RS 4,562.00 - 1,331.00
Present recommendation Buy between RS 1800-1900, short sell Rs 2200-2500.
Long Term target Rs 3200