Record Date On October 18 For 1:10 Stock Split: What Daily Charts Suggest?

Small-cap firm Humming Bird Education Ltd operates in the consumer discretionary industry. To boost the liquidity of the company's equity shares and encourage the involvement of small investors by making it more affordable, Humming Bird Education have declared a 1:10 stock split with Friday, October 18, 2024 acting as the record date. With a market valuation of Rs 60.75 Cr, Humming Bird Education's shares ended Tuesday's trading session 5% down at Rs 991 a share.

Humming Bird Education Stock Split

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company has passed the necessary Resolution in their meeting held today i.e. on October 01, 2024, inter-alia, approved and fixed the "Record Date" on Friday, October 18, 2024 for the purpose of ascertaining the name of shareholders entitled for Sub-division/Split of every 1 (one) Equity Share of the Company having face value of Rs. 10/- (Rupees Ten) each fully paid up into 10 (ten) Equity Shares of face value of Rs. 1/- (Rupees One) each," said Humming Bird Education in a stock exchange filing.

Humming Bird Education Stock Split Allotment

"Upon approval of the Shareholders for sub-division of Equity Shares, in case the Equity Shares are held in physical form, the old Share Certificate(s) of the face value of Rs. 10/- each will stand automatically cancelled on the record date and new certificate(s) of the face value of Rs. 1/- each fully paid up, will be dispatched to the Shareholders without necessity of surrendering the old Share Certificate(s) of the face value of Rs. 10/- each. In case the Equity Shares are held in dematerialized form, the sub-divided Equity Shares will be directly credited to the Shareholder's Demat account on the record date in lieu of their existing Equity Shares," Humming Bird Education informed stock exchanges.

Humming Bird Education Share Price Target

"Hummingbird Education stock price is bearish on the Daily charts with strong resistance at 1093. A Daily close below support of 933 could lead to a target of 818 in the near term," recommended A R Ramachandran, Independent Research Analyst.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.