Heavy buying after FIIs increasing stake: Back-to-back upper circuits and 52-week highs in this multibagger micro-cap stock; scrip up by 30,000 per cent!
The stock gave multibagger returns of 220 per cent in just 1 year, 9,600 per cent in 3 years and a whopping 30,000 per cent in a decade.
Indian markets continued their upward trajectory on Friday, with key indices posting modest gains. The BSE Sensex rose 0.33 per cent at 69,750, while the NSE Nifty-50 gained 0.19 per cent at 20,940. Market breadth was nearly even, with 1,741 stocks advancing and 1,741 declining among the 3,782 stocks traded on the BSE.
Amid this bullish sentiment, Hazoor Multi Projects Ltd. emerged as a standout performer, witnessing a significant 5 per cent jump in its share price. This surge propelled the stock to a new 52-week high of Rs. 257.85, further extending its recent upward momentum marked by consecutive upper circuits and 52-week highs.
The recent surge in Hazoor Multi Projects Ltd.'s stock can be attributed to a significant investment from several prominent Foreign Institutional Investors (FIIs). These FIIs collectively acquired 38,00,000 shares of the company through a preferential issue of warrants at Rs 178 per share. The total allotment size of the preferential issue was 55,00,000 equity shares, raising an aggregate amount of Rs 97.90 crores.
Among the major FII investors, Amicorp Capital (Mauritius) Limited acquired the largest stake with 20,00,000 shares, followed by Vespera Fund Limited with 5,50,000 shares. Other notable investors included Aries Opportunities Fund Limited with 5,00,000 shares, Elara India Opportunities Fund with 5,00,000 shares, and Kiftar IN LLC with 2,50,000 shares. The remaining 17,00,000 warrants were allocated to a combination of body corporates and individual investors.
This substantial investment from leading FIIs has instilled confidence in the company's future prospects, contributing to the recent spike in its share price.
Earlier, the company informed that its subsidiary, Hazoor Infra Projects Pvt Ltd received an order from Arawali Kante Multi Projects Pvt Ltd and was authorized by The Ministry of Road Transport & Highways for rehabilitation and up-gradation four lanes in the State of Maharashtra under NHDP-IV on Hybrid Annuity mode in Ratnagiri district. The projected value of the project is Rs 1,129.81 crore. The majority of the project value (Rs 523.45 crore) will come from annuities. The next largest source of funding will be interest on annuities (Rs 463.16 crore). The remaining Rs 143.20 crore will come from O&M costs.
Incorporated in 1992, Hazoor Multi Projects Limited is engaged in the business of Infrastructure and Real Estate. According to the financials, Hazoor Multi Projects has a market cap of over Rs 300 crore with a 3-year CAGR of 350 per cent. The company reported positive numbers in its Quarterly Results and annual results. The net sales increased by 589.34 per cent and the net profit skyrocketed by 1,735.68 per cent in FY23 over FY22. Hazzomnr
The shares of the company have a PE of 5x whereas the sectoral PE is 22.5x with an ROE of 85.9 per cent & an ROCE of 83.8 per cent. The stock gave multibagger returns of 220 per cent in just 1 year, 9,600 per cent in 3 years and a whopping 30,000 per cent in a decade. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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