CMC gains on plan to expand its foot print in Education and Training business in FY15

CMC is currently trading at Rs. 1530.35, up by 8.90 points or 0.58% from its previous closing of Rs. 1521.45 on the BSE. The scrip opened at Rs. 1522.90 and has touched a high and low of Rs. 1537.00 and Rs. 1510.60 respectively. So far 4651 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1780.00 on 07-Jan-2014 and a 52 week low of Rs. 1106.80 on 05-Aug-2013. Last one week high and low of the scrip stood at Rs. 1600.00 and Rs. 1428.70 respectively. The current market cap of the company is Rs. 4629.84 crore. The promoters holding in the company stood at 51.12% while Institutions and Non-Institutions held 40.21% and 8.67% respectively. CMC is reportedly planning to expand its foot print in Education and Training business segment in FY15 by entering into vocational training market domestically as well as internationally. In this regard, the special initiatives are going on in the company to focus and grow its foot print in this segment to make it a broader base of knowledge management. The company’s Education and Training segment is the smallest revenue generator of the four strategic business units it has. In the quarter ended March, this segment reported consolidated revenues worth Rs 13.77 crore compared with Rs 77.44 crore from IT enabled services and the highest of Rs 398 crore from the systems integration segment. The customer services segment churned Rs 119.82 crore in the period under review. Further, the company is planning to invest more on research and development in the current financial year and will keep a budget 15% higher from last year. CMC is leading system engineering and Integration Company in India and is a subsidiary of Tata Consultancy Services, Asia’s largest software company. Operating out of 18 offices and 180 services locations in the country, CMC employs over 10,000 people and has a wholly owned subsidiary in USA called CMC Americas, Inc.