Exit Everonn Education: Rajesh Agarwal

Rajesh Agarwal, Head of Research, Eastern Financiers advises to exit from Everonn Education.
 
Agarwal told CNBC-TV18, “Everonn Education`s performance is extremely bad and the only recommendation which I can give on this stock is a sell call despite the fact that the acquisition price of investor is very high, but there are no hopes as such, because if you look at the performance last quarter they have achieved a sales turnover of Rs 15 crore odd on which they have reported a loss of Rs 129 crore."

He further added, "For 9 months the loss is around Rs 187 crore and there are no hopes in the near future despite the fact that education is high growth area all the companies associate with this sector be it Everonn, Educomp Solutions had performed very badly due to their high debts and interest costs and all those things. I do not think in the near future, maybe in the next one year or so these companies are going to perform anything. So it is better to get out of these stocks as and when you are comfortable with.”