Multibagger in just one year: This micro-cap infrastructure company receives construction approval for a project worth Rs 119.18 crore!

Shares of the company have gained more than 400 per cent in the last one year.

Hazoor Multi Projects Limited informed in the exchange filing that the company has received work commencement approval from BSCPL Infrastructure Limited- GVPR Engineers Limited (JV) for the construction of access-controlled Nagpur- Mumbai Communication Expressway (Hindu Hruday Samrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg) in the state of Maharashtra on EPC mode for Package 13, from km577+739 to km.623+379) (Section — village Sonari to village Tarananpada) in district Nashik for Rs.119.18 crores.

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). It has an unexecuted order book of more than Rs.1200 Cr. as on August 31, 2022.

Shares of Hazoor Multi Projects Limited also delivered multibagger returns in the last one year. During this period, the company’s share price jumped from Rs 28.64 on June 13, 2022, to Rs 153.20 on June 09, 2023, an increase of about 430 per cent.

On Friday, the stock opened at Rs 150.90, hitting a high and low of Rs 153.20 and Rs 146.60. The stock previously closed at Rs 145.95. The stock closed trading at Rs 153.20, up by almost 5 per cent. The stock has a 52-week high of Rs 164.40 and a 52-week low of Rs 24.24.