Veranda Learning Solutions Ltd Share Price – NSE /  BSE

Education, Small Cap

The frontline indices continued to trade in a narrow range with major losses in the mid-afternoon trade, mirroring negative global cues after the US Federal Reserve’s interest rate decision. The Nifty traded below the 23,950 mark. Realty shares extended losses for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, tumbled 998.71 points or 1.24% to 79,195.28. The Nifty 50 index dropped 255.10 points or 1.05% to 23,943.75.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index slipped 0.47% and the S&P BSE Small-Cap index fell 0.51%.

The market breadth was weak. On the BSE, 1,547 shares rose and 2,409 shares fell. A total of 103 shares were unchanged.

IPO Update:

The initial public offer (IPO) of DAM Capital Advisors received bids for 3,88,48,364 shares as against 2,08,04,632 shares on offer, according to stock exchange data at 14:40 IST on 19 December 2024. The issue was subscribed to 1.87 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 269 to Rs 283 per share. An investor can bid for a minimum of 53 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Realty index slipped 1.39% to 1,096.90. The index fell 1.94% in three consecutive trading sessions.

Mahindra Lifespace Developers (down 1.96%), Macrotech Developers (down 1.81%), Prestige Estates Projects (down 1.8%), Phoenix Mills (down 1.79%), Oberoi Realty (down 1.54%), Raymond (down 1.45%), Sobha (down 1.05%), DLF (down 1%), Godrej Properties (down 0.57%) and Brigade Enterprises (down 0.11%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.58% to 6.901 as compared with the previous close of 6.861.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.0775, compared with its close of 84.9450 during the previous trading session.

MCX Gold futures for the 5 February 2024 settlement fell 0.73% to Rs 76,090.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 108.05.

The United States 10-year bond yield added 0.47% to 4.522.

In the commodities market, Brent crude for February 2024 settlement lost 38 cents, or 0.52% to $73.01 a barrel.

Stocks in Spotlight:

Veranda Learning Solutions slipped 2.09%. The company said that its subsidiary Veranda XL has signed an MoU with SRM Institute of Science and Technology (SRMIST) to deliver professional chartered accountancy (CA) coaching classes.

Doms Industries dropped 4.33% after the company’s holding firm, FILA has sold 4.57% equity share capital of the company through accelerated bookbuilding process (ABB).

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The classes, offered under the brand of JK Shah Classes (JKSC), would be provided on SRM Institute’s campus based in Kattankulathur, Tamil Nadu.

This collaboration will provide SRM students with specialized CA coaching classes.

The curriculum will combine JKSC's expertise with SRM's academic environment, empowering students to build careers in accounting, auditing, and finance.

The partnership will enable aspiring CA professionals to receive end-to-end coaching, covering all levels of the CA course.

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 scrip fell 2.11% to currently trade at Rs 247.80 on the BSE.

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Veranda XL, a Veranda Learning Solutions enterprise, has signed a Memorandum of Understanding (MoU) with SRM Institute of Science and Technology (SRMIST), based in Kattankulathur, Tamil Nadu, to deliver professional Chartered Accountancy (CA) coaching classes on campus under the renowned brand of JK Shah Classes (JKSC).

This collaboration will provide SRM students with specialized CA coaching classes. The curriculum will combine JKSC's over-four decades of expertise with SRM's strong academic environment, empowering students to build successful careers in accounting, auditing, and finance. The partnership will enable aspiring CA professionals to receive end-to-end coaching, covering all levels of the CA course. Students will benefit from expert faculty, innovative teaching methods, and a proven track record of success, ensuring they are well-prepared to achieve their professional goals.

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Veranda Learning Solutions announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 9 January 2025.

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