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MT Educare sanctions long-term debt with Xander; to raise Rs 110 crores

MT Educare Limited (MTEL) on Monday informed that the company along with its subsidiary Lakshya Educare Private Limited has been sanctioned a long-term debt facility from Xander Finance Private Limited (Xander) of Rs 110 crore, as per BSE filing.
The deal has enabled MTEL to convert most of its short-term debt outstanding as on March 31, 2017, to long-term debt.BonazCapital
MT Educare on Tuesday is up by 0.8% at Rs 63.90 per share at 13:04 hours IST on BSE. It traded at a new 52-week low value of Rs 58.95. The stock also witnessed a spurt in the volume by more than 25.78 times.
MT Educare Limited is an education service company providing education support and coaching services. The company operates through conducting commercial training, coaching, tutorial classes and activities incidental and ancillary segment.
Stock View:
MT Educare Ltd is currently trading at Rs 64.4, up by Rs 1.35 or 2.14% from its previous closing of Rs 63.05 on the BSE.
The scrip opened at Rs 63.4 and has touched a high and low of Rs 64.4 and Rs 58.95 respectively. So far 1372964(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 251.07 crore.
The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 189.6 on 01-Jun-2016 and a 52 week low of Rs 62.25 on 22-May-2017. Last one week high and low of the scrip stood at Rs 79.85 and Rs 62.25 respectively.
The promoters holding in the company stood at 42.78 % while Institutions and Non-Institutions held 15.05 % and 42.17 % respectively.
The stock is currently trading below its 200 DMA.