Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; hits fresh 52-week high!

Shares of the company gained more than 30 per cent in the last six months.

Shares of Hazoor Multi Projects Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock also made a fresh 52-week high of Rs 202.15. In the last six months, the stock has gained more than 30 per cent.

Hazoor Multi Projects Limited has been awarded a contract by the Ministry of Road Transport & Highways to rehabilitate and upgrade a section of NH-66 (old NH-17) in Maharashtra to four lanes. The project is valued at approximately Rs.1,129.81 crores.

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The company posted strong Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 112.25 crore which decreased by 40.71 per cent YoY. The operating profit of the company stood at Rs 18.63 crore, while the PAT of the company stood at Rs 13.79 crore, from Rs 9.46 crore last year's same quarter.

Shares of Hazoor Multi Projects Limited also delivered multibagger returns in the last three years. During this period, the company’s share price jumped from Rs 2.34 on December 04, 2020, to Rs 202.15 on December 01, 2023, an increase of about 8500 per cent. FIIs have also increased their stake in the company.

Hazoor Multi Projects Limited (HMPL) is engaged in the business of infrastructural development and works as a sub-contractor in executing various national highway road projects awarded by government authorities such as Maharashtra State Road Development Corporation Ltd. (MSRDC) and National Highways Authority of India (NHAI).

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.