TeamLease Services share price up 2% on selling subsidiary
The share touched a 52-week high of Rs 5,544.10 on October 11, 2021 and a 52-week low of Rs 2,365.00 on December 22, 2020
December 06, 2021 / 10:10 AM IST
TeamLease Services' share price rose more than 2 percent to Rs 4,225.40 in the morning trade on December 6 after the company announced selling its subsidiary IIJT Education.
"TeamLease had executed a share purchase agreement for selling its entire shareholding in IIJT Education Private Limited, on December 02, 2021, and has completed the formalities comprised under the share purchase agreement on December 03, 2021," the company said in its press release.
With this sale, IJT Education Private Limited ceases to be a wholly-owned subsidiary of the company and/or a group company of TeamLease Group.
The sale would have no adverse impact on the operations of TeamLease, it added.
IIJT Education Private Limited had no operating income/revenue during the previous financial year.
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At 09.56 am TeamLease Services was quoting at Rs 4,225.20, up Rs 102.55, or 2.49 percent, on the BSE.
The share touched a 52-week high of Rs 5,544.10 on October 11, 2021 and a 52-week low of Rs 2,365.00 on December 22, 2020. It is trading 23.79 percent below its 52-week high and 78.66 percent above its 52-week low.