On November 23, Hazoor Multi Projects said that it had secured orders totalling Rs 1,130 crore to renovate and enhance a section of NH-66 in Ratnagiri.
Stock Market News: The shares of Hazoor Multi Projects were locked in a 5 percent upper circuit on Tuesday, at Rs 222.85 apiece, which is also its fresh 52-week-high level. The Hazoor Multi Projects is a small-cap company in the construction industry and has a market valuation of Rs 215 Crore. This multibagger firm is in the real estate and infrastructure sectors. One of Dalal Street’s multibagger stocks, Hazoor Multi Projects, has gained 192 per cent year to date.
“We are pleased to inform that through endorsement agreement, work has been endorsed to M/s Hazoor Infra Projects Private Limited (A wholly owned Subsidiary Company & “New Concessionaire”) received from Arawali Kante Multi Projects Private Limited (” Substituted Concessionaire”) and authorized by The Ministry of Road Transport & Highways (“Authority”) for Rehabilitation and up-gradation of NH-66 (old NH-17) from Km.241/300 to Km. 281/300 (Arawali to Kante section) to four lanes in the State of Maharashtra under NHDP-IV on Hybrid Annuity mode in Ratnagiri district,” the company said in a regulatory filing.
On November 23, Hazoor Multi Projects said that it had secured orders totalling Rs 1,130 crore to renovate and enhance a section of NH-66 in Ratnagiri.
The project is estimated to be worth around Rs 1,129.81 crore, including Rs 143 crore for operation and maintenance expenditures, Rs 523 crore for annuities, and Rs 463 crore for interest on annuities.
In accordance with a regulatory filing dated December 1st, the Board of Directors of the company has scheduled a meeting for Wednesday, December 6th, 2023. The agenda includes the discussion and consideration of a proposal to raise funds through the issuance of securities, convertible instruments, or any other permissible method, individually or in combination, for cash or otherwise. Additionally, the appointment of necessary intermediaries to facilitate this process will be addressed during the meeting.
The shares of Hazoor Multi Projects have produced a multibagger return of 8,991.04% in three years and 19,976.58 per cent in five years. The stock has returned 173.50 percent on a multibagger basis during the last year, while the scrip has gained 206.24% year to date (2023).