Multibagger Stock: Shares of Hi-Tech Pipes Ltd. are one of the multibagger stocks on Dalal Street, which have shown strong upside in the post-Covid rally over the past two and a half years. This small-cap stock saw strong buying in the last session and climbed to new lifetime highs 789 per share on the NSE. Hi-Tech Pipes share price gained ground on Thursday after the company’s board gave the nod to issue fully convertible equity warrants. 692 per share, down 10 per cent from its current share price.
The multibagger small-cap company informed the Indian stock market exchanges about the issue of equity warrants, “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Board of Directors at its meeting to be held today i.e. Thursday, November 24, 2022, to, inter alia, consider and approve the issue of 57,00,000 (Fifty Seven Lakhs only) Fully Convertible Equity Warrants (“Warrants”), each Warrant rightfully usable by the holder[s] To subscribe for one (1) Equity Share against each Warrant at a price of Rs. 692/- [including the warrant subscription price. and warrant exercise price] or buyer (QIB) for a person belonging to promoter, promoter group and non-promoter group category (including qualified institutional) at the price determined in accordance with the provisions of Chapter V of the SEBI (ICDR) Regulations, 2018, whichever is higher, on such terms and conditions as may be determined by the Board and subject to the approval of the shareholders of the Company through postal ballot and applicable regulatory authorities in accordance with SEBI (ICDR) Regulations. 2018 and other applicable laws.”
as mentioned above, Hi-Tech Pipes The stock is one of the multibagger stocks that the Indian stock market has produced in recent years. In YTD time, it has grown from around since 535 767 each level, entering to the tune of about 45 percent. This multibagger stock makes a sharp jump in post-Covid rebound as it moves around since 75 767 level in the last two and a half years, giving returns of over 900 per cent to its loyal shareholders. However, this small-cap stock has a history of providing excellent returns to its shareholders. In the last six years, it has grown from around since 55 The level of 767 on NSE reached close to 1250 percent in a span of about 6 years.
This multibagger small-cap stock is available for trading on both NSE and BSE, It closed on Thursday with a market cap of 947 crore and had a trading volume of 2,97,532 in Thursday’s session, which is much higher than its last 20 days’ average trade volume of 1,94,731.
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