Meanwhile, stock markets began the trade on a positive note on Wednesday, tracking firm trends in Asian equities and fresh foreign fund inflows.
Shares of Hazoor Multi Projects Limited, which is engaged in the business of infrastructure and real estate, gained on Wednesday as the company announced the incorporation of a subsidiary with the objective of executing its power and green energy business.
According to the information shared, the name of the wholly owned subsidiary incorporated by the company is Hazoor New & Renewable Energy Pvt Ltd.
The subsidiary will carry out the business of design, research, finance, leasing, renting, develop energy-efficient technologies and renewable energy solutions, including solar panels, solar cells, wind power systems, bioenergy technologies, biofuels, geothermal energy, compressed biogas energy, hydel energy, nuclear energy, coal, gas lignite, biomass, tidal, wave energy, and other conventional, nonconventional and renewable energy sources.
The company will provide services in India and outside India, with the aim to promote sustainable practices by harnessing both conventional and non-conventional energy sources for power generation and distribution, establishing strategic collaborations with leading multinational companies.
The counter opened in green today at Rs 43.48 on the BSE against the previous close of Rs 43.03. It gained further to touch the intraday high of Rs 43.97 – a gain of 2.18 per cent.
The 52-week high and low of the stock are Rs 63.90 and Rs 28.41, respectively.
The stock has given a multibagger return of 419.34 per cent in two years and a 1523.19 per cent return in three years. However, it has gained only 33.16 per cent in one year and has corrected 22.64 per cent in six months.
Meanwhile, stock markets began the trade on a positive note on Wednesday, tracking firm trends in Asian equities and fresh foreign fund inflows.
Selling in blue-chip IT stocks, however, put some pressure on the markets as the benchmark indices turned volatile later in the trade.
