India's S Chand & Co jumps after buying stake in online learning platform

S Chand and

02/12/2021 05:03

** Indian education content company's shares  SCHA.NS  gain
as much as 10% to hit their upper circuit at 119.75 rupees,
their biggest intraday pct gain since Oct. 12
    ** SCHA on Wednesday said https://bit.ly/32T54jW it would
buy a minority stake in iNeuron Intelligence, a Bengaluru-based
company that offers online courses, live projects and placements
for students and professionals in the fields of cloud and
artificial intelligence
    ** Deal for 56.7 mln rupees ($756,151.23) with an additional
consideration of 28 mln rupees in a second tranche subject to
the terms of the agreement
    ** Separately, co on Wednesday launched https://bit.ly/31cVOqx
 a vernacular version of its digital learning mobile app
'Learnflix' in the state of West Bengal 
    ** Up to Wednesday's close, stock had risen 66.8% YTD

($1 = 74.9850 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))