Rs 2,500 Crore Solar Park Project: Multibagger Penny Stock Under Rs 60 In Focus Today; Here’s Why

The stock is up by 99 per cent from its 52-week low of Rs 28.41 per share.

On Saturday, shares of Hazoor Multi Projects Ltd surged 2 per cent to Rs 56.48 per share from its previous closing of Rs 55.38 per share. The stock is up by 99 per cent from its 52-week low of Rs 28.41 per share.

Hazoor Multi Projects Ltd. (HMPL) is entering the renewable energy sector with the development of the Chhatrapati Shivaji Maharaj Saur Urja Park (CSMSUP), Maharashtra's first solar park. This 1.2 GW capacity project, a collaboration with a leading UK multinational, will span 4,200 acres in the Solapur district. Featuring state-of-the-art 750-watt solar panels in both fixed and tracking configurations, CSMSUP aims to maximise energy generation and significantly contribute to India's renewable energy targets.

CSMSUP's operation will not only reduce India's carbon footprint but also stimulate economic growth and create jobs in the Solapur region. HMPL views this project as a symbol of India's leadership in sustainable development and a call for global businesses to invest in the country's green energy transition. Beyond CSMSUP, HMPL is pursuing additional solar hybrid projects in Maharashtra (1,200 MW) and Andhra Pradesh (500 MW) with international partners, further demonstrating its commitment to advancing renewable energy in India.

Hazoor Multi Projects Ltd (HMPL) has received a significant boost for its proposed 500 MW solar park in Prakasam District, Andhra Pradesh. The project, with a planned investment of Rs. 2,500 crores across 2,000 acres, has garnered the support of NREDCAP, the State Nodal Agency (SNA) for renewable energy projects. NREDCAP has formally acknowledged HMPL's proposal and pledged its assistance in facilitating the project's successful implementation, under the AP Integrated Clean Energy Policy 2024. This support includes coordinating grid connectivity and power evacuation, assisting with land acquisition for any necessary revenue lands, and requesting a detailed application with a Detailed Project Report (DPR) for capacity allocation. This positive development underscores the state's commitment to renewable energy growth and paves the way for HMPL to play a key role in achieving Andhra Pradesh's clean energy targets.

About the Company

Hazoor Multi Projects Ltd is a leading player in the Indian infrastructure sector, specialising in a diverse range of projects including road construction, bridges, flyovers, and other civil engineering works. With a strong commitment to quality, safety, and timely delivery, Hazoor Multi Projects has established a solid reputation for excellence in the industry. The company boasts a skilled workforce and a robust infrastructure, enabling it to undertake challenging projects of varying scales and complexities. Hazoor Multi Projects contributes to the nation’s growth by developing vital infrastructure that supports economic progress and enhances connectivity.

The company has a market cap of Rs 1,117 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 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. The company's shares have a PE of 13x whereas the sectoral PE is 23x. The stock gave multibagger returns of 400 per cent in just 2 years and a whopping 1,865 per cent in 3 years. From Rs 0.15 to Rs 56.48 per share; the stock rocketed 37,500 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.