The shares of Global Education Ltd. hit its upper circuit of 4.99% to touch Rs. 403.80 during the early hours of trading on Monday. Global Education is a small-cap educational service provider and consultancy firm based out of Mumbai with a market value of Rs. 411 crores.
The company’s shares are expected to trade ex-split from October 19, 2022. The board announced the stock split from a face value of Rs. 10 to Rs. 5 per share on September 7, 2022.
During the last month, the stock got locked in the upper circuit of 5% on multiple occasions. Taking a one-year time horizon, Global Education has given a multi-bagger return of 748%.
The stock rose Rs. 356.15 in value during the last twelve months from the price of Rs. 47.65 per share on 11 October 2021. Rs. 1,00,000 invested a year ago would have become Rs. 8,48,000 by now, resulting in eye-popping profits of Rs. 7,48,000.
Companies resort to stock splits to boost the liquidity of their stock in the market. Lesser prices and more quantity are expected to lure investors who want to invest smaller amounts. The per-share price of the company goes down as a result of a stock split. However, the market capitalization of the company remains unchanged.
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