Small-cap stock below ₹100: Hazoor Multi Projects declares Capex expansion plan. Do you own? | Stock Market News

Small-cap stock below ₹100: Hazoor Multi Projects Limited on Wednesday, January 22, announced that the company will consider expansion plans to move into new and emerging business segments, according to the stock market filing.

According to the filing data, the company aims “to strategically expand into new and emerging business segments that align with the company’s long-term growth objectives.” 

Hazoor Multi Projects also aims to fund the new business segment and support the company’s existing business needs. They will evaluate the proposal for raising the additional capital at the board meeting scheduled on Tuesday, January 28.

“To fund the new business segment and support the company’s existing business needs, evaluate proposals for raising additional capital to strengthen the company’s financial resources through the issuance of securities, convertible instruments, or other permissible methods as determined by the board, subject to obtaining required regulatory or statutory approvals, including shareholder consent,” according to the exchange filling. 

They are likely to raise additional capital through the issuance of securities, convertible instruments, or other methods approved by the board of directors. Among other things, they will also announce their October to December quarter results on January 28.

Hazoor Multi Projects share price

Hazoor Multi Projects Limited shares closed 3.65 per cent lower at ₹52.50 after Wednesday’s market session, compared to ₹54.49 at the previous market close. 

Shares hit their 52-week high at ₹63.90 on September 12, 2024, while the 52-week low was at ₹28.41 on March 28, 2024. As of January 22, the company’s market capitalisation stood at ₹1,089.38 crore.

Hazoor Multi Projects shares have given investors over 30,000 per cent returns in the last five years and nearly 50 per cent returns in the last one year. However, the stock has dropped 1.74 per cent on a year-to-date (YTD) basis.

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