The 52-week high of the stock is Rs 59.90 and the 52-week low is Rs 28.17. The stock has been losing for the last two days and has fallen 7.84 per cent in the period.
Shares of infra-to-energy player Hazoor Multi Projects are in focus as the company has informed exchanges about the allotment of 10 lakh equity shares post conversion of warrants of the company. The stock opened in green at Rs 30.79 against the previous close of Rs 30.43 on the BSE. It gained further to touch the high of Rs 31.74 amid firm buying. But later it dipped to touch the low of Rs 29.04. Last seen, the scrip was trading at Rs 29.64, with a loss of 2.60 per cent. The market cap of the company stood at Rs 680.18 crore.
The 52-week high of the stock is Rs 59.90 and the 52-week low is Rs 28.17. The stock has been losing for the last two days and has fallen 7.84 per cent in the period.
Allotment of 10,00,000 equity shares
The company has informed exchanges that the fund-raising committee of the company has approved the allotment of 10 lakh equity shares having face value of Re 1 each at an issue price of Rs 30 upon conversion of 1 lakh warrants issued at an issue price of Rs 300 each.
According to the information shared, these shares have been issued to Kumar Agarwal (Non-Promoter/Public Category) on a preferential basis. He was required to make the remaining payment of Rs 2.25 crore upon conversion of the warrants, which has now been received by the company.
HMPL forms subsidiary
The company recently stated that it has 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.
“…a wholly owned subsidiary in the name of Hazoor New & Renewable Energy Pvt Ltd has been incorporated…and except HMPL no promoter/promoter group/group companies have any interest in the entity,” HMPL said in a regulatory filing.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
