Multibagger in just 6 months; Board announce stock split from Rs 10 to Re 1 for the first-time ever – Company is debt-free!
The stock gave multibagger returns of 155 per cent in just 6 months and a whopping 800 per cent in 2 years.
On Wednesday, shares of Humming Bird Education Ltd plunged 5 per cent to Rs 1,092.30 per share from its previous closing of Rs 1,149.75 per share. The stock’s 52-week high is Rs 1,149.75 and its 52-week low is Rs 360.
Humming Bird Education Ltd. announced that its Board of Directors has approved the proposal to subdivide or split each existing equity share of Rs 10 face value into 10 equity shares of Re 1 face value, all fully paid up. The record date for this split will be determined after obtaining shareholder approval and will be communicated subsequently. This sub-division aims to enhance liquidity and encourage participation from smaller investors by making shares more affordable and is expected to be completed within approximately three months from the date of shareholder approval. The split will apply to all equity shares, as there is only one class of shares. The company's authorized share capital will increase from 7,50,000 shares of Rs 10 each to 75,00,000 shares of Re 1 each. Similarly, the issued, subscribed, and paid-up capital will rise from 6,13,000 shares of Rs 10 each to 61,30,000 shares of Re 1 each.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
Established in 2010, Humming Bird Education Ltd is in the business of conducting Olympiad exams and selling preparation booklets for such exams. It is the world's only listed Olympiad organization and has played a crucial role in mentoring and motivating millions of students globally. The company has a market cap of Rs 67 crore and as of March 31, 2024, it is debt-free.
The stock gave multibagger returns of 155 per cent in just 6 months and a whopping 800 per cent in 2 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Cabinet Approves One More Semiconductor Unit Worth Rs 3,307 Crore: Electronics Manufacturing Company to set up a semiconductor unit at Sanand, Gujarat