Heavy buying alert: 15 consecutive upper circuits in this multibagger stock post FIIs increasing stake, stock trades at a low PE & high ROE!

The stock gave multibagger returns of 285 per cent in just 1 year, 11,100 per cent in 3 years and a whopping 35,000 per cent in a decade.

Indian markets soared on Thursday, with key indices ending sharply higher in green territory. The Sensex climbed 1.41 per cent to settle at 70,568, while the Nifty-50 jumped 1.25 per cent to close at 21,167.

In this bullish wave, Hazoor Multi Projects Ltd stood out, witnessing a spectacular 5 per cent surge in its share price. This powerful rally pushed the stock to a new 52-week high of Rs 313.30, further extending its recent streak of 15 consecutive upper circuits and record highs.

Hazoor Multi Projects Ltd.'s recent stock surge finds its roots in a major vote of confidence from prominent foreign investors. Several key Foreign Institutional Investors (FIIs) collectively scooped up 38 million shares at a premium, injecting nearly Rs 98 crore into the company through a preferential issue of warrants.

Amicorp Capital led the charge, acquiring 20 million shares, while Vespera Fund, Aries Opportunities, Elara India Opportunities, and Kiftar IN LLC also secured significant stakes. This collective show of faith from established players has instilled confidence in Hazoor Multi's future, propelling its share price upwards. The remaining warrants were distributed amongst body corporates and individual investors, further solidifying the company's appeal.

In essence, Hazoor Multi's recent ascent is a testament to its burgeoning potential, fuelled by the backing of renowned financial heavyweights.

Earlier, Hazoor Infra Projects Private Limited, a subsidiary of Arawali Kante Multi Projects Private Limited, for the rehabilitation and upgradation of NH-66 in Maharashtra under the government's NHDP-IV program. This project, valued at approximately Rs 1,130 crore, will see the four-lining of the Arawali to Kante section of the highway. The concessionaire will receive a combination of upfront payments, annuities with interest, and reimbursements for operation and maintenance costs to finance the project. This initiative will significantly improve connectivity and boost economic activity in the region.

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 285 per cent in just 1 year, 11,100 per cent in 3 years and a whopping 35,000 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.