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Earlier on December 6, the company’s board approved funding Rs 97.90 crore through the preferential issuance of shares.
Upper Circuit Alert: The shares of Hazoor Multi Projects were locked in a 5 per cent upper circuit of Rs 270.70 a share on Monday. Additionally, the counter has also reached the upper circuit limit for the 12th consecutive session. The scrip had closed at Rs 257.85 in the last trading session. Earlier on December 6, the company’s board approved funding Rs 97.90 crore through the preferential issuance of shares.
“To accelerate growth further and to augment the financial resources of the Company through the raising of funds, aggregating amount of up to Rs. 97,90,00,000/-(Rupees Ninety SevenCrores and Ninety Lakhs Only), by way of creating, issuing and allotting up to 55,00,000 (Fifty Lakhs only) Equity Share having face value of Rs.10/-each, to the persons belonging to ‘Non-Promoter, Public Category’, as detailed in Annexure-l, on preferential basis, at an issue price higher than the floor price,” said the firm in a regulatory filing.
The company received an order of Rs 1129.81 crore on November 23, which sparked the boom in stock price. The order concerned the restoration and improvement of NH-66 (the former NH-17) to four lanes in the State of Maharashtra under NHDP-IV on the Hybrid Annuity method in Ratnagiri district, from Km. 241/300 to Km. 281/300 (the Arawali to Kante segment).
The stock price rose from Rs 1.09 to the current market price during the previous five years. The growth has resulted in a multibagger return of 23,555.96 per cent. The stock price has risen from Rs 2.81 to the current market price during the previous three years, resulting in a multibagger return of 9,778.56 per cent. The stock price jumped from Rs 81.08 to the current market price during the course of the previous year, yielding a multibagger return of 218.02 per cent. Year-to-date, the scrip gained 72.77 to the current market price, resulting in a multibagger return of 254.34 per cent.
The scrip reached a 52-week-high of Rs 270.70 on (11/12/2023) and a 52-week-low of Rs 66.42 on (26/12/2022).
