Stock Market Today: Small-cap stock below ₹50, HMA Agro, gained during the intraday trade on Friday, May 16, defying the weak stock market sentiment. The gains followed HMA Agro’s announcement regarding the conversion of debt into the equity shares of the company.
HMA Agro debt conversion details
HMA Agro Industries informed the stock exchanges about the allotment of equity shares by its subsidiary company during market trading hours on Friday.
As per the release shared by the small-cap company with the exchanges, HMA Agro said one of its subsidiary companies has allotted 30,37,000 equity shares of face value ₹10/- each at an issue price of ₹10/- per share, aggregating to ₹3,03,70,000 by way of conversion of loan into equity. The subsidiary being referred to by HMA Ago is HMA Natural Foods Private Limited
HMA Agro, in the filing, also said that the credit of shares has been duly confirmed by HMA Natural Foods Private Limited through a confirmation letter received from Central Depository Services (India) Limited (CDSL).
HMA Agro share price movement
The small-cap stock below ₹50, HMA Agro’s share price, opened at ₹33.05 on the BSE on Friday. At the time of opening, HMA Agro stock traded in the green, as it kicked off the trade above the previous closing price of ₹32.91. HMA Agro share price gained further to an intraday high of ₹33.70, resulting in gains of 2.4%. The rise in the company’s stock came despite weakness in the Indian stock market. Both Sensex and Nifty 50 declined nearly 0.50% in intraday deals today.
HMA Agro’s 52-week high stands at ₹59.44, scaled on June 11, 2024, while the stock has touched a 52-week low of ₹27.54 on April 1, 2025.
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