Core Education slumps as much as 47 per cent

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

  • Public musn’t pay for domestic servants for our diplomats

    Nothing seems to have changed in the year and half since the fur that flew thick and fast over the case of diplomat Debjani Khobragade and her maid Sa

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

Economic integration in east Asia

As trade agreements within a global framework have become increasingly ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture