Recent Performance of Hazoor Multi Projects
Hazoor Multi Projects has made headlines recently as its share price surged by 5% on Tuesday, reaching a new high of ₹580.90 per share on the BSE. This impressive gain follows the company’s board approval for the allotment of equity shares following the conversion of warrants. The rally reflects growing investor confidence and heightened trading activity surrounding the stock.
Trading Volume Insights
The trading volume for Hazoor Multi Projects stock saw a significant increase on October 1, with approximately 2 lakh shares traded. This figure stands in stark contrast to the one-week average volume of just 1 lakh shares, indicating a burgeoning interest in the stock from the investing community.
Equity Shares Allotment Details
In a recent filing, Hazoor Multi Projects disclosed that its board has sanctioned the conversion of over 2 lakh warrants into 2.16 lakh equity shares, each having a face value of ₹10. The shares were issued at an attractive price of ₹300 each to non-promoters or the public category, on a preferential basis. This proactive step is aimed at boosting the company’s capital base and providing more liquidity in the market.
Key Players in the Allotment
The list of allottees includes reputable firms and individuals such as Seabird Leasing and Finvest Private Limited, along with prominent investors like Piyush Gupta, Nishita Mittal, Resonance Opportunities Fund, and Rajeev Kumar. Their involvement signifies strong institutional and individual confidence in Hazoor Multi Projects’ future prospects.
Capital Structure Update
Following the conversion of these warrants into equity shares, Hazoor Multi Projects has reported an increase in its issued and paid-up capital to ₹19,91,77,020, which now comprises 1,99,17,702 equity shares of ₹10 each. This increase in capital is expected to enhance the company’s operational capabilities and strategic initiatives moving forward.
Performance Over Time
In terms of performance, Hazoor Multi Projects has demonstrated remarkable growth, with its share price climbing over 23% in the past month and an impressive 72% year-to-date return. Over the past year, the stock has offered multibagger returns, boasting an increase of more than 375%. Such performance positions Hazoor Multi Projects as a noteworthy player in the smallcap sector.
Current Market Status
As of 2:15 PM today, Hazoor Multi Projects shares are trading at ₹578.55, marking a 4.57% appreciation compared to previous trading sessions. These figures not only highlight the stock’s bullish momentum but also suggest a favorable market environment for continued growth.
Final Thoughts
The recent developments at Hazoor Multi Projects encapsulate a vibrant narrative of growth and transformation within the real estate sector. With significant trading volumes, robust capital structures, and impressive returns, investors are keeping a close lookout for this smallcap stock’s future performance. As always, investors should conduct thorough research and consider seeking advice from certified financial experts before making investment decisions.
