"Reserve Bank of India has granted certificate of registration to Srajan Capital (a wholly owned subsidiary company of Career Point) to commence/carry on business of non banking financial institution," said the company in its filing.
Shares of Career Point are locked at 20 percent upper circuit on Monday after its subsidiary received licence from RBI for setting up non-banking financial institution.
"Reserve Bank of India has granted certificate of registration to Srajan Capital (a wholly owned subsidiary company of Career Point) to commence/carry on business of non-banking financial institution," said the company in its filing.
Career Point, which incorporated in 1993, provides education to students preparing for various competitive examinations. The company has diversified business operations with multiple product offerings including Test Preparation, Schools (Pre-schools and K12), Technical Campuses, and Private Universities in multiple geographies.
At 12:41 hours IST, the stock was quoting at Rs 143.10, up Rs 23.85, or 20 percent amid high volumes on the Bombay Stock Exchange. There were pending buy orders of 33,594 shares, with no sellers available.
Posted by Sunil Shankar Matkar
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