TeamLease Services at lifetime high

TeamLease Services, which is engaged in staffing and human resources provider, hit a lifetime high today at Rs.2184.95. It had hit the previous lifetime high on 8th Nov at Rs.1953 after it had announced that it had signed an agreement to buy a 40% stake in Schoolguru Eduserve, which is an online learning company, working with some 18 universities.

Today’s reason for the new high is that T. Rowe Price International Small Cap Equity Trust has bought stake in the company. This was done through open markets yesterday.  

T Rowe Discovery Fund bought 0.5% stake at Rs.1885/share while International Discovery Fund bought 4.4% equity at the same, Rs.1885/share. The sellers were Gaja Capital India Fund and GPE (India).

TeamLease has gone public two years ago and it had offered shares at Rs.850/share. Today, the IPO shareholders are sitting on a gain of over 150% in two years.