Hazoor Multi Projects Share Today: Hazoor Multi Projects Ltd, an infrastructure-to-energy player, has announced the allotment of over 1.31 lakh equity shares following the conversion of warrants. The fresh allotment was approved by the company’s fund-raising committee at an issue price of Rs 30 per share, including a premium of Rs 29 on a face value of Re 1 each. This conversion involved 13,100 warrants.

The small-cap stock saw a tumultuous trading session on Wednesday despite the development. On the NSE, the stock began the day flat at Rs 49.34 and rose to an intraday high of Rs 50.95, representing a nearly 3% increase. Around 3:26 PM, it traded 4.30% lower at Rs 47.19 after reversing its gains and entering negative territory.

Technically, the stock is trading below its 100-day moving average but still above its 5-, 20-, 50-, and 200-day moving averages. The market capitalization of Hazoor Multi Projects is roughly Rs 999 crore.

The company, which is mostly involved in real estate and infrastructure, has recently branched out into renewable energy, indicating that it wants to increase the scope of its operations.

Another significant development is that Square Port Shipyard Pvt. Ltd., a subsidiary of the company, recently received an order from a shipping company based in the United Kingdom. Before being acquired by Hazoor Multi Projects, the shipyard in Dabhol was owned by Bharati Defence Infrastructure Ltd., which went bankrupt in 2017–18.

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Disclaimer: This is just a piece of news about recent developments in the stock. Jagran does not advise investing, Please do take expert opinion before investing.