Core Education shares dropped as much as 65 per cent to Rs. 99 before making some recovery. It is India’s largest global education company and provides transformational and innovative solutions in the education space. Core Education had reported a consolidated sales turnover of Rs. 485 crore and a net profit of Rs. 68 crore for the October to December quarter.LIC has 2% stake in core education,many leading FII have 12% stake. As rumors were saying selling of pledged shares, which have gone completely wrong. As management have clarified and as per exchange data Cresta Fund sells 13.75 lakh shares of CORE Education where the daily average is just 30K shares because of this demand and supply mismatch stock took a plunge. To add to woes stock does not have any circuit filters.
Stock fundamentals have not deteriorated overnight.It`s just the matter of oversupply as Cresta fund has dumped 13.75 lakh shares against the daily trading of 30k shares hence creating a chain reaction. Also the Stock has history of creating such panic fall in few sessions as depicted in below charts.
Panic Fall in 2008 Stock went from 250 to almost 34 Rs in matter of few sessions.
After the Panic fall slow and steady recovery. Buy when there is Blood on the Street, Investors having patience more than tripled money in matter of year.
Again Panic fall in 2009 Swift recovery and Stock went to create an All time High.
So looking at the past evidence stock fundamentals are sound, All one require is patience to Buy and Hold. Please do not invest 100% in a single shot, Only invest 30-40% now and if there is more decline looking at overall structure of market , you can BUY more.
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