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Educomp drops on disappointing results

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INDIA-STOCKS

Shares in Educomp Solutions fell 9.7 percent on Wednesday with institutional investors selling off in the education services provider after its disappointing April-June results.

Educomp reported on Tuesday net profit for the quarter rose 22 percent, but brokerages were concerned about falling margins.

Shares in the counter closed at 622.40 rupees with volumes of 1.2 million shares.

According to a news report, Educomp has picked majority stake in Delhi-based engineering test preparation company Vidya Mandir Classes for about Rs 34 crore.

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