Multibagger penny stock under Rs 50 jumps 19.5 per cent; Board allocated 17,77,777 equity shares to West Midlands Ventures Pvt Ltd
The stock is up by 35 per cent from its 52-week low of Rs 28.41 per share.
On Monday, shares of Hazoor Multi Projects Ltd jumped 19.5 per cent to an intraday high of Rs 38.25 per share from its intraday low of Rs 32 per share. The stock is up by 35 per cent from its 52-week low of Rs 28.41 per share.
Hazoor Multi Projects Ltd has finalized the allotment of 17,77,777 equity shares, each with a face value of Re 1, at an issue price of Rs 30, following the conversion of 1,77,777 warrants. This allotment, made to West Midlands Ventures Pvt Ltd. from the "Non-Promoters/Public Category" on a preferential basis, occurred after a stock split and upon the receipt of Rs 3,99,99,983, representing 75 per cent of the warrant issue price. The conversion was executed according to SEBI (ICDR) Regulations, 2018, adjusting for the stock sub-division from Rs 10 to Re 1 per share. West Midlands Ventures Pvt Ltd., holding 3,04,890 warrants, applied for the conversion of 1,77,777 warrants, resulting in the allotment of 17,77,777 equity shares and leaving 1,27,113 warrants pending. This action increased West Midlands Ventures Pvt Ltd.'s equity holding from 4.57 per cent to 5.37 per cent.
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.
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About the Company
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 over Rs 700 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
The President of India took a fresh entry and bought 18,15,000 shares or 0.91 per cent while FIIs increased their stake to 19.94 per cent in December 2024 compared to September 2024. The company's ex-traded stock shares split in the ratio 10:1, i.e., sub-division of equity shares of Rs 10 face value, 10 equity shares of face value of Re 1 each on Thursday, November 07, 2024. The company's shares have a PE of 11x whereas the sectoral PE is 21x. The stock gave multibagger returns of 300 per cent in just 2 years and a whopping 1,300 per cent in 3 years. From Rs 0.15 to Rs 38.25 per share, the stock rocketed 25,000 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.