Watch out for this penny stock at Rs 74.40 hit 20 per cent upper circuit today; spurt in volume by more than 6.60 times on BSE & FIIs increase stake!

The stock gave multibagger returns of 360 per cent in 3 years and a whopping 550 per cent in 5 years.

Today, the stock market was trading in red with BSE Sensex Index down by 0.77 per cent and NSE Nifty-50 Index down by 0.80 per cent. Though the market was in red, one of the Top Gainers on BSE, shares of Shanti Educational Initiatives Ltd hit 20 per cent upper circuit to Rs 74.40 per share. At 03:00 pm, the stock is trading at Rs 70 per share, up 12.90 per cent from its previous closing of Rs 62.

The stock’s 52-week high of Rs 109.40 per share and its 52-week low is Rs 52.01 per share. The shares of the company saw a spurt in volume by more than 6.60 times on BSE. The is no such news for the sudden rise in the stock price.

Earlier, in February 2024, The Board of Directors of Shanti Educational Initiatives Ltd on February 27, 2024, approved the sale of its entire stake in its subsidiary, Shanti Leaning Foundation, to unrelated parties. The subsidiary generated no revenue or income in the last financial year and has negligible net worth. While agreements for the sale are expected to be signed on the same date, the actual completion of the sale may happen by February 27, 2024 or on a mutually agreed-upon date. The sale consideration is Rs 1,00,000.

Also Read: Role of artificial intelligence (AI) in stock market analysis

Shanti Educational Initiatives Ltd (SEIL), a venture of the Chiripal Group based in Ahmedabad, India, offers a wide range of educational services. They operate several K-12 schools under the Shanti Asiatic Schools brand, currently educating over 25,000 students across multiple cities in India. SEIL also runs a large network of preschools under the Shanti Juniors banner, with over 300 locations in 74+ cities. In 2013, they launched Shanti's Hopskotch Preschool, a premium preschool chain catering to parents who desire a high-quality education, a clean environment, and a global learning approach for their children. SEIL goes beyond running its institutions and provides consultancy services for K-12 and preschools, including assistance with affiliation procedures, school infrastructure design, project planning and execution, academic support, and marketing initiatives.

As of December 2023, FIIs increased their stake to 19.01 per cent compared to 18.84 per cent in September 2023. The company has a market cap of over Rs 1,100 crore with a 3-year stock price CAGR of 60 per cent. The stock gave multibagger returns of 360 per cent in 3 years and a whopping 550 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.