Multibagger infra stock declares fund raise through preferential issue. Share hits upper circuit

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Stock market today: Hazoor Multi Projects share price witnessed sharp upside in early morning deals and hit 5 per cent upper circuit within few seconds of stock market's opening bell today. Hazoor Multi Projects share price today opened at ₹245.60 apiece levels on BSE and hit upper circuit.

While touching the upper circuit, this circuit to circuit stock went on to scale a new life-time high as well. Hazoor Multi Projects stocks were under the radar of Dalal Street investors as the infra sector company has declared fund raise to the tune of ₹97.90 crore through issuance of preferential shares.

Also Read: Why FIIs are pumping money in Indian stock market — explained with 5 reasons Hazoor Multi Projects Ltd informed Indian stock market bourses about fund raise citing, "In terms of Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company in their meeting held on today i.e. Wednesday, 06th December, 2023, at the registered Office of the company at C-45, 4th Floor, Plot 210, Mittal Tower, C, Wing, Barrister Rajani Patel Marg, Nariman Point, Mumbai-4000021 inter-alia considered and approved the following businesses: To accelerate growth further and to augment the financial resources of the Company through raising of funds, aggregating amount of up to Rs.