10:1 Stock Split On November 07; 33,840 Per Cent Returns & FIIs Bought 84,855 Shares: Multibagger Civil Construction Stock Hit Upper Circuit Today
The stock gave multibagger returns of 343.3 per cent from its 52-week low of Rs 122.50 per share.
Today, shares of Hazoor Multi Projects Ltd hit a 5 per cent upper circuit to Rs 543.05 per share from its previous closing of Rs 517.20. The stock gave multibagger returns of 343.3 per cent from its 52-week low of Rs 122.50 per share.
The Board of Directors of the company announced the stock split in the ratio 10:1 i.e., sub-division of equity shares of Rs 10 face value, 10 equity shares of face value of Re 1 each in the AGM meeting. The record date for the stock split is fixed as Thursday, November 07, 2024.
Earlier, the Board of Directors of Hazoor Multi Projects Limited granted in-principle approval for the merger of Square Port Shipyard Private Limited with Hazoor Multi Projects Limited. This merger aims to combine the strengths and synergies of both businesses, benefiting all stakeholders. Subject to the approval of shareholders, creditors, stock exchanges, NCLT, SEBI, and other relevant authorities, a Specific Transaction Committee will be established to oversee and manage the merger process, including the appointment of necessary intermediaries.
Furthermore, Hazoor Multi Projects Limited has been awarded two contracts by the National Highways Authority of India (NHAI). The first contract, valued at Rs 2.59 crore, involves acting as the user fee collection agency for widening the NH218 Bijapur Hubli section in Karnataka, expected to be completed within three months. The second contract, worth Rs 17.94 crore, entails user fee collection, maintenance of adjacent toilet blocks, and recouping consumables at the Bogalur fee plaza on NH-9 in Tamil Nadu, to be executed within one year.
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About the Company
Hazoor Multi Projects Ltd, founded in 1992, has transitioned from residential construction to focus on infrastructure development. They primarily act as a subcontractor on national highway projects for government agencies like the Maharashtra State Road Development Corporation and the National Highways Authority of India. Additionally, Hazoor Multi Projects has ventured into the EPC (Engineering, Procurement, and Construction) contracting business. The company has a market cap of over Rs 1,000 crore.
Consolidated Results: According to Quarterly Results, the company reported net sales of Rs 70.26 crore and net profit of Rs 9,46 crore in Q1FY25. In its annual results, the company reported net sales of Rs 545 crore and a net profit of Rs 63.77 crore in FY24.
In September 2024, FIIs bought 84,855 shares and increased their stake to 19.63 per cent compared to 19.18 per cent in June 2024. The shares of the company have a PE of 15x whereas the sectoral PE is 26x with an ROE of 86 per cent & an ROCE of 84 per cent. The stock gave multibagger returns of 300 per cent in just 1 year and a whopping 2,500 per cent in 3 years. From Rs 1.60 to Rs 543.05 per share; the stock rocketed 33,840 per cent in 5 years.Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.