Shares of Real Estate Company Hazoor Multi-Projects Surged To Hit 52W-high; Here’s Why

The shares of real estate company Hazoor Multi Projects were also registering a rise of more than four per cent and were functioning at the level of Rs. 450. The shares of Hazoor Multi Projects, a realty company with a market cap of around Rs 837 crore, have a 52-week high of Rs 454 while a 52-week low of Rs 78.

The shares have given an investment return of 15 per cent in the last 5 days while in the last one month it has given a return of 28 per cent from the level of Rs 351. Shares of Hazoor Multi Projects have given investors a return of 242 per cent in the last 6 months from the level of Rs 131.

Recently, the company has stated that its board of directors has approved the allotment of 35 lakh equity shares on a preferential basis. The Board has approved the allotment of 35,00,000 equity shares, on a preferential basis having a face value of Rs.10/- each, at an issue price of Rs.178 per equity share (including a premium of Rs. 168 per equity share) for cash consideration, after receipt of an amount aggregating to Rs.62,30,00,000 at the rate of Rs. 178 per equity share.

Hazoor Multi Projects Ltd. is an infrastructure and real estate firm. It engages in executing and developing elite schemes, including a multistore residential tower in Pune; and an exclusive bunglow scheme near Amby Valley at Lonavala. The company was founded on December 1, 1992 and is headquartered in Mumbai.