Shares of infra-to-energy player Hazoor Multi Projects Ltd are in focus today as the company's board of directors has considered and approved the allotment of 5,27,500 equity shares with a face value of Re 1 each. The stock opened in green today amid positive momentum in the stock market that mirrored a rally in global markets amid signs of easing tensions in the Middle East following a ceasefire between Iran and Israel. It started the trading session at Rs 40.34 on the BSE against the previous close of Rs 39.84.
The 52-week high of the stock is Rs 63.90, which it touched on September 12, 2024 and the 52-week low of Rs 32 on March 3, 2025. According to BSE Analytics, the counter has given a multibagger return of 174 per cent in two years and 1,225 per cent in three years. However, the stock has corrected 25 per cent so far this year.
Approves Allotment Of 5,27,500 Shares
According to the company, these shares have been issued following the conversion of 52,750 warrants. These warrants were originally allotted at Rs 300 each.
Consequent to today's conversation of warrants/allotment of equity share, the issued and paid-up capital of the company stands increased to Rs 22,49,61,410.
Gets Rs 23 Crore Project From NHAI In UP
Meanwhile, the company has secured an order worth Rs 23 crore from the National Highways Authority of India (NHAI).
"Letter of Award (LOA) has been received from NHAI for acting as user fee collection agency at Shrishikalan Fee Plaza at km 193 for rehabilitation and upgradation from km 178.00 to km 215.00 (Kabarai-Banda Section) of NH-76 to 2 lane with paved shoulder on EPC mode in the state of Uttar Pradesh," the company said in a filing.
Forms Subsidiary To Undertake Power, RE Projects
Earlier, the company incorporated a new arm to undertake power and renewable energy projects. The development comes after the company informed about its plans to set up a 500 MW solar project in Andhra Pradesh at an investment of Rs 2,500 crore, last month, and a 1.2 GW capacity solar park in Solapur, Maharashtra in January.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)