Multibagger Penny Stock Under Rs 50; Board of Company Allotted 13,52,620 Equity Shares on Conversion of Warrants
The stock is up over 50 per cent from its 52-week low of Rs 28.41 per share.
On Tuesday, shares of Hazoor Multi Projects Ltd plunged 0.95 per cent to Rs 44 per share from its previous closing of Rs 43.41 per share. The stock is up over 50 per cent from its 52-week low of Rs 28.41 per share.
Hazoor Multi Projects Ltd is a leading Indian company that builds roads, bridges, and other civil engineering projects. They focus on good quality, safety, and finishing projects on time. They're known for doing excellent work. They have skilled workers and the right equipment to handle big and complex projects. Hazoor Multi Projects helps India grow by building important infrastructure that boosts the economy and makes travel easier.
The company has a market cap of Rs 870 crore. The company reported net sales of Rs 164.87 crore and a net profit of Rs 2.72 crore in its Quarterly Results (Q3FY25) while in its nine-month results (9MFY25), the company reported net sales of Rs 391.21 crore and a net profit of Rs 23.20 crore. Looking at its annual results (FY24), the company reported net sales of Rs 545 crore and a net profit of Rs 64 crore
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As per the exchange filing, the company has allotted 13,52,620 equity shares to West Midlands Ventures Pvt Ltd and Nirmala Devi Dugar. following the conversion of 1,35,262 warrants at Rs 30 per share. This preferential allotment, post-stock split, resulted in Rs 3,04,33,949 being received (75 per cent of the warrant issue price).
Earlier, the company was awarded a significant work order from Venkatesh Infra Projects Pvt Ltd. for reinforcement steel cutting, bending, and fixing as per technical drawings, as well as the fabrication of structural steel for bridge construction at the Versova Bandra Sea Link Project Site in Mumbai. This domestic contract, valued at Rs 102.10 crore, encompasses providing, cutting, bending, and fixing reinforcement steel of various diameters (with binding wire to be supplied by Hazoor) and providing, cutting, bending, drilling, welding, and finishing fabricated structural steel according to design and drawings. The project is scheduled for completion within six months.
The company's shares have a PE of 11x whereas the sectoral PE is 21x. The stock gave multibagger returns of 360 per cent in just 2 years and a whopping 1,400 per cent in 3 years. From Rs 0.15 to Rs 43 per share, the stock rocketed 28,567 per cent in 5 years. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.