Multibagger Alert: Hazoor Multi Projects Hits Upper Circuit After 375% Rally in a Year – Small Cap Stock Rises

Hazoor Multi Projects’ share price surged by 5% on Tuesday after the company approved the allotment of equity shares following the conversion of warrants. The stock hit the upper circuit at ₹580.90 per share on the BSE, marking a 5% rise.

Trading volumes for Hazoor Multi Projects also spiked on October 1, with around 2 lakh shares changing hands compared to its average of 1 lakh shares in the past week.

In a filing with the stock exchange, the real estate company announced that its board had approved converting over 2 lakh warrants into 2.16 lakh equity shares, each with a face value of ₹10 and an issue price of ₹300, allocated to non-promoters from the public category.

The board’s decision was made on September 30, where they approved the conversion of 2,16,350 warrants into 2,16,350 equity shares. Some of the key allottees include Seabird Leasing and Finvest Private Limited, Piyush Gupta, Nishita Mittal, Resonance Opportunities Fund, and Rajeev Kumar.

With this conversion, the company’s issued and paid-up capital has now increased to ₹19.91 crore, comprising 1,99,17,702 equity shares at ₹10 each, as noted in Hazoor Multi Projects’ BSE filing on September 30.

Hazoor Multi Projects Share Price Performance

In the past month, Hazoor Multi Projects’ share price has increased by over 23%, with a year-to-date (YTD) gain of more than 72%. The small-cap stock has delivered multibagger returns, rising by over 375% in the past year.

At 2:15 pm on Tuesday, the stock was trading 4.57% higher at ₹578.55 per share on the BSE.