Sharp fall in CORE Edu's share price could strain its funding and liquidity positions: S&P
05th March 2013 02:18 PM
Core Education & Technologies, India's global education company, dropped after Standard & Poor's (S&P) Ratings Servicesplaced its 'B-plus' long-term corporate credit rating of the company on credit watch with negative implications.
A sharp fall in the share price of India-based CORE could strain the company's funding and liquidity positions, inS&P's opinion. In addition,it expects the education technology solutions and services provider to continue to generate significant negative free operating cash flows over the next few years. Shares ofthe companyare trading at Rs 69.10, down Rs 1.8, or 2.54% at the Bombay Stock Exchange (BSE) on Tuesday at 12:14 p.m.The scrip has touched an intra-day high of Rs 73.75 and low of Rs 67.65. The total volume of shares traded at the BSE is 1,309,609.In the earlier session, the shares gained 8.83%, or Rs 5.75, at Rs 70.90. Currently, the stock is trading down 79.97% from its 52-week high of Rs 345.00 and above 39.88% over the 52-week low of Rs 49.40.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 111.85 (40.95) (36.61) 1 Month 304.80 (233.90) (76.74) 3 Months 308.15 (237.25) (76.99) 6 Months 304.35 (233.45) (76.70) 1 Year 281.80 (210.90) (74.84) Note: Based on previous day closing price.
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