Core Education slumps as much as 47 per cent

Tags: Companies
Shares in Core Education & Technologies Ltd slump as much as 47.3 percent to their lowest intraday level since April 2, 2009, on unconfirmed fears that shares held by high-net worth individuals are being heavily sold because of margin funding issues, dealers say.

A Core Education spokesman said the company had no immediate comment on the share falls when reached by Reuters.

"Many had taken this stock as collateral to raise money. Now that the value of the stock is decreasing they have to top up margins, or the stock would be sold off," said an analyst at a domestic brokerage house.

Core Education shares were down 37.5 percent as of 0524 GMT, bringing their losses so far this week to 76 percent and wiping out 25.58 billion rupees from its market value.

EDITORIAL OF THE DAY

  • Common test will safeguard sanctity and bring accountability to medical profession

    Recalling its order of 2013, the Supreme Court paved the way for the all-India common entrance test, the national eligibility-cum-entrance test (NEET)

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture