Tree House climbs to 10% UC

Tree House Education has been having a really volatile run on the bourses for the past few days. After hitting consistently new lows for the since 20th Nov, yesterday it had hit a new low at Rs.130.10 and in the same day, hit the 10% UC at Rs.167.30. And today too, it hit the 10% UC at Rs.184.

FIIs buying and selling was the reason for this UC. Yesterday, Macquarie Fund through its two schemes sold a total of 11.94 lakh shares on the NSE, at an average price of Rs.160.69/share.  At the same time, Morgan Stanley Asia (Singapore) Pte bought 2.40 lakh shares at Rs 166.56/BSE, again on the NSE.

The persistent new lows had caused anxiety amongst shareholders as they were worried that the company was opening up record number of branches in current Q2, which could cause stress on the finances. The  the company issued an update, assuring all that there was nothing untoward in the company, it was business as usual.  It stated that the health of its business and expansion of its pre-schools was going as planned.