Volume Spurt Alert: Multibagger Penny Stock Under Rs 60 Surges 4.5 Per Cent on January 24; Here’s Why
The stock gave multibagger returns of 450 per cent in just 2 years and a whopping 1,900 per cent in 3 years.
On Thursday, shares of Hazoor Multi Projects Ltd surged 4.5 per cent to Rs 57.40 per share from its previous closing of Rs 54.95 per share. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 28.41 per share. The shares of the company saw a spurt in volume by more than 1.80 times on BSE.
Hazoor Multi Projects Limited is scheduled to be held on Tuesday, January 28, 2025, at the registered office of the Company situated at C-45, 4th Floor, Plot -210, C Wing, Mittal Tower, Barrister Rajani Patel Marg, Nariman Point, Mumbai-400021, inter-alia to transact the following businesses:
- To strategically expand into new and emerging business segments that align with the company’s long-term growth objectives, capitalizing on opportunities in rising sectors to drive enhanced profitability, sustained success, and seamless integration with existing capabilities and expertise, and accordingly alteration/modification in ‘Object Clause’ of Memorandum of Association of the company.
- To fund the new business segment and support the company’s existing business needs, evaluate proposals for raising additional capital to strengthen the company’s financial resources through the issuance of securities, convertible instruments, or other permissible methods as determined by the Board, subject to obtaining required regulatory or statutory approvals, including shareholder consent, and appointing necessary intermediaries for this purpose. subject to obtaining any required regulatory or statutory approvals, including shareholder approval, and to appoint any necessary intermediaries for this purpose.
- To consider and approve any other item(s) with the permission of the chair
Earlier Updates: The company's ex-traded stock shares 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 on Thursday, November 07, 2024. Hazoor Multi Projects Limited (HMPL) is making significant strides. The company is merging with Square Port Shipyard Private Limited to leverage synergies and benefit stakeholders, subject to regulatory approvals. Furthermore, HMPL has secured two contracts from the National Highways Authority of India (NHAI) for user fee collection and maintenance services on specific highway sections, totalling approximately Rs 20.53 crore.
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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. Hazoor Multi Projects has also ventured into the EPC (Engineering, Procurement and Construction) contracting business. The company has a market cap of Rs 988 crore.
According to Quarterly Results, the net sales increased by 118 per cent to Rs 153.08 crore and net profit increased by 17 per cent to Rs 11.02 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales decreased by 59 per cent to Rs 225.16 crore and net profit decreased by 68 per cent to Rs 20.48 crore in H1FY25 compared to H2FY24.
The company's shares have a PE of 13x whereas the sectoral PE is 23x. The stock gave multibagger returns of 450 per cent in just 2 years and a whopping 1,900 per cent in 3 years. From Rs 0.15 to Rs 57.40 per share; the stock rocketed 38,000 per cent in 5 years. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.