Veranda Learning Solutions Ltd Share Price – NSE  /  BSE

Education, Small Cap

Veranda Learning Solutions announced a strategic agreement with Pearson (FTSE: PSON.L), the world's leading learning company, to synergize their expertise in content creation and delivery of resources for test preparation and higher education in India. With an initial focus on competitive test preparation and IT education content, Pearson and Veranda will explore broadening their collaboration to offer comprehensive hybrid learning solutions in the higher education sector in India.

Through this collaboration, Pearson aims to expand the reach and accessibility of its hybrid learning solutions, catering to the evolving needs of learners across India. Leveraging its extensive experience and well-established presence in India, Pearson will deliver higher education solutions that meet the international standards while addressing the specific demands of the India job market.

Veranda, leveraging its extensive experience in training students across diverse domains and geographies, will tailor educational content for Indian students by integrating its distinct pedagogical approaches. This partnership promises to provide Indian learners with a distinctive and highly impactful array of learning solutions for skill development, upskilling and reskilling.

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The key equity benchmarks traded in negative terrain with substantial losses in mid-afternoon trade. The Nifty traded below 22,150 mark. PSU Bank shares witnessed selling pressure for third consecutive trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex, was slipped 562.10 points or 0.77% to 72,837.68. The Nifty 50 index declined 145.10 points or 0.65% to 22,127.40.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.18% while the S&P BSE Small-Cap index gained 0.73%.

The market breadth was positive. On the BSE, 2,223 shares rose and 1,556 shares fell. A total of 112 shares were unchanged.

Domestic stock markets will remain closed on Wednesday, 17 April 2024 on account of Ram Navami.

Politics:

India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

Buzzing Index:

The Nifty PSU Bank index dropped 1.03% to 6,983.35. The index fell 4.21% in three consecutive trading sessions.

Punjab National Bank (down 2.45%), Bank of Baroda (down 1.7%), Union Bank of India (down 1.24%), Canara Bank (down 1.07%), State Bank of India (down 1%) and Bank of India (down 0.25%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.26% to 7.194 from previous close of 7.175.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.5250, compared with its close of 83.4450 during the previous trading session.

MCX Gold futures for 5 July 2024 settlement rose 0.36% to Rs 72,604.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.10% to 106.31.

The United States 10-year bond yield rose 0.11% to 4.634.

In the commodities market, Brent crude for June 2024 settlement rose 4 cents or 0.04% to $90.06 a barrel.

Stocks in Spotlight:

Veranda Learning Solutions rose 0.03% after the company announced a strategic agreement with Pearson to synergize their expertise in content creation and delivery of resources for test preparation and higher education in India.

Ugro Capital rallied 3.15% after the company’s asset under management (AUM) jumped 48% to Rs 9,000 crore in Q4 FY24 as compared with Rs 6,081 crore in Q4 FY23.

Steel Strips Wheels (SSWL) advanced 2.70% after the company signed alloy wheel supply agreement with one of the top passenger car manufacturers in India.

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With an initial focus on competitive test preparation and IT education content, Pearson and Veranda will explore broadening their collaboration to offer comprehensive hybrid learning solutions in the higher education sector in India.

Through this collaboration, Pearson aims to expand the reach and accessibility of its hybrid learning solutions, catering to the evolving needs of learners across India. Leveraging its extensive experience and well-established presence in India, Pearson will deliver higher education solutions that meet the international standards while addressing the specific demands of the India job market.

Veranda, leveraging its extensive experience in training students across diverse domains and geographies, will tailor educational content for Indian students by integrating its distinct pedagogical approaches.

This partnership promises to provide Indian learners with a distinctive and highly impactful array of learning solutions for skill development, upskilling and reskilling.

Rajesh Pankaj, chief program officer of Veranda Learning, said: “We are delighted to join forces with Pearson.

This strategic alliance opens doors to collaborative opportunities, fostering innovation and creativity in learning solutions for various education segments.

By combining our strengths, Veranda and Pearson promise to bring out effective hybrid learning products that are created by experienced faculty who have hands-on knowledge of students’ requirements.”

Veranda Learning Solutions, part of the Kalpathi AGS Group, is a public listed education technology company that offers a bouquet of training programs for competitive exam preparation, including state public service commission, banking, insurance, railways, IAS, and CA, as well as a slew of professional skilling and upskilling programmes.

The company reported a consolidated net loss of Rs 17.26 crore in Q3 FY24 as against net profit of Rs 1.15 crore in Q3 FY23. Revenue from operations jumped 91.81% to Rs 91.84 crore in Q3 FY24 as compared to Rs 47.88 crore in Q3 FY23.

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The company has valued TEIPL at Rs 240 crore. With this addition, Veranda wants to achieve the goal of reaching 1 million students by FY24.

Tapasya has been providing services to 19 inter/PU colleges and 10 degree colleges across Telangana and Karnataka, with over 13,000 students. It provides management bandwidth and allied services to colleges offering advanced courses in Management and Commerce, nationally and internationally. It also facilitates students by providing professional courses like CA and CMA, as well as integrated programs.

Suresh Kalpathi, executive director and chairman of Veranda said, “By having Tapasya under the Veranda umbrella, we will now have a significant footprint in the Telangana and Karnataka markets.”

Muppala Sreedhar, founder and chairman of Tapasya Institutions, stated, “This alliance reaffirms our unwavering commitment to nurturing talent, cultivating excellence, and sculpting the leaders of tomorrow who will shape the world with ingenuity and resilience.”

Veranda Learning Solutions, part of the Kalpathi AGS Group, is a public listed education technology company that offers a bouquet of training programs for competitive exam preparation, including state public service commission, banking, insurance, railways, IAS, and CA, as well as a slew of professional skilling and upskilling programmes.

The company reported a consolidated net loss of Rs 17.26 crore in Q3 FY24 as against net profit of Rs 1.15 crore in Q3 FY23. Revenue from operations jumped 91.81% to Rs 91.84 crore in Q3 FY24 as compared to Rs 47.88 crore in Q3 FY23.

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