Shares of Zee Learn hit their fresh 52-week highs, while those of Tree House Education and Accessories hit upper circuit in trade on Friday after the former said its Board has accorded in-principle approval for exploring consolidation options with latter.
The stock of Zee Learn settled the day 3.29 per cent higher after rising as much as 9.98 per cent to hit its frsh 52-week high of Rs 46.80 on the Bombay Stock Exchange (BSE), while stock of Tree House hit its intraday high of Rs 222.60, up 9.98 per cent.
"The Board of Directors of the company has accorded in-principle approval for exploring consolidation options with Tree House Education and Accessories," Zee Learn said in a BSE filing.
"The Board has constituted and authorised a committee to finalise the proposed consolidation and take all necessary steps, including appointment of necessary consultants," Essel Group's education arm added.
Zee Learn runs a chain of schools under brand names - Mount Litera Zee Schools, Kidzee pre-schools, Mount Litera World Pre-school and Mount Litera International School.