Debt-free multibagger stock to keep under as Board announces record date for stock split from Rs 10 to Re 1

The stock gave multibagger returns of 150 per cent in just 6 months and a whopping 720 per cent in 2 years.

The shares of Humming Bird Education Ltd last traded on September 12, 2024, where the stock plunged 5 per cent to Rs 991 per share from its previous closing of Rs 1,043 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. This sub-division aims to enhance liquidity and encourage participation from smaller investors by making shares more affordable and fixed the record date for stock split as Friday, October 18, 2024. 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.

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 60.75 crore and as of March 31, 2024, it is debt-free.

The stock gave multibagger returns of 150 per cent in just 6 months and a whopping 720 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.