Hazoor Multi Projects to Raise Rs 486 Crore From Convertible Warrants
Amidst the weakness, the shares of Hazoor Multi Projects were down by around two per cent and was trading at the level of Rs 372.45, falling by Rs 7.60.
New Delhi: Equity benchmark indices pared all early gains and were trading lower in mid-session on Friday, with the Sensex tumbling 779.69 points and the Nifty falling from its lifetime peak, amid profit-taking and a decline in the shares of blue-chip Reliance Industries. The 30-share BSE Sensex dropped 779.69 points to 73,831.42 in the afternoon trade after soaring 484.07 points earlier in the day.
Amidst the weakness, the shares of Hazoor Multi Projects were down by around two per cent and was trading at the level of Rs 372.45, falling by Rs 7.60. The shares of Hazoor Multi Projects with a market cap of around Rs 567 crore have a 52-week high of Rs 454 and a 52-week low of Rs 88. Hazur Multi Project shares have been facing weakness for the last few days but have given a 12 per cent return to investors in the last month.
Meanwhile, Hazoor Multi Projects Limited has informed the stock market that its board of directors met on May 3. In this meeting, approval has been given to issue 1.62 crore fully convertible warrants. These convertible warrants are being issued to non-promoter public category investors on a preferential basis at a price of Rs 300 per warrant. This will help the company to raise Rs 486 crore.
Earlier, the NSE Nifty also declined 193.4 points to 22,454.80. The benchmark hit a record peak of 22,794.70 in the early trade.From the Sensex basket, Bharti Airtel, Reliance Industries, Maruti, Asian Paints, Larsen & Toubro and Nestle were among the major laggards.
Bajaj Finance traded over 1 per cent higher, while Bajaj Finserv also climbed more than 1 per cent.
The Reserve Bank of India (RBI) has lifted restrictions on Bajaj Finance on sanctioning and disbursal of loans through eCOM and Insta EMI Card, the company said in a regulatory filing on Thursday.
In November last year, the central bank had directed Bajaj Finance to stop sanction and disbursal of loans under its two lending products — eCOM and Insta EMI Card — due to the company’s non-adherence to the extant provisions of digital lending guidelines.
In Asian markets, Hong Kong traded in the positive territory while Seoul and Shanghai quoted lower.
The BSE benchmark climbed 128.33 points or 0.17 per cent to settle at 74,611.11 on Thursday. The NSE Nifty went up by 43.35 points or 0.19 per cent to 22,648.20.
