Educomp Solution zooming up due to fund raising plan.

>> Thursday, July 9, 2009

Educomp solution is up almost by 11% odd. The stock is zooming up as the management has approved the issue of 16,20,000 equity shares of Rs 10 each at a price of Rs 3,745 per equity share (”Issue Price”) including a premium of Rs 3,735 per equity share, aggregating to an Issue size of Rs 606.69 crores.

The Stock Look strong and one can expect it to reach 3900 levels in near terms.

Analyst View : Hold Educomp Solutions with target of Rs 3850, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 3550, he adds.