Share price of this small-cap company offering end-to-end solutions in the education space moved up by 17.7 percent on BSE to hit an intraday high at Rs. 183.3 in the trading session of Monday, after commencing work as a Training Partner with Karnataka Skill Development Corporation (KSDC).
With a market capitalisation of Rs. 1,223 crore, the shares of Veranda Learning Solutions closed in the green at Rs. 177.7, up by 14.13 percent, compared to its previous closing price of Rs. 155.7.
According to the recent regulatory filings with the stock exchanges, Veranda Learning Solutions Limited commenced its work as a Training Partner as per terms of the MoU with the KSDC (Karnataka Skill Development Corporation) to assist in the implementation of the Wealth Management Course.
The course is part of the Kalike Jothege Kaushalya, a state government initiative to provide skill development and career guidance to students in government colleges, and the program will be delivered in Government colleges as a pilot project at Raichur and Gulbarga.
Earlier in 2022, Veranda had teamed up with the Tamil Nadu Skill Development Corporation (TNSDC) and trained more than 20,000 students in upskilling courses such as Cloud Computing and Big Data Analytics, while in 2023, another MoU was signed with TNSDC to train over 30,000 students.
As per the shareholding pattern of March 2024, the promoters hold a 53.63 percent stake in the company, Foreign Institutional Investors hold a 2.2 percent stake, while retail investors and Domestic Institutional Investors hold a 43.88 percent and 0.29 percent stake in the company, respectively.
The stock has delivered negative returns of nearly 36.2 percent in six months, as well as around 10.5 percent in the last one year. So far in 2024, the company has given 38 percent of negative returns.
Founded in 2018, Veranda Learning Solutions Limited offers a wide range of training programs for competitive exam preparation, including the State Public Service Commission, Banking, Insurance, Railways, IAS, and CA, as well as a broad range of professional skilling and upskilling programs.
Written by Shivani Singh
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