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Kolkata: In early trade on November 20, the stock price of Hazoor Multi Projects stood at Rs 31.79. The real story unfolds when the price of this penny stock was at 18 paise five years ago, which makes the rise 17,561.11% in this period. The 52-week high and 52-week low of the stock are Rs 59.90 and Rs 26.80. Let's have a look at the company, it businesses, expansion plans and performance.
This Mumbai-based company has skills in infrastructure building. It has special expertise in highway development and has won a major deal from National Highways Authority of India. It is also active in the sectors of real estate and green energy. Not long ago, in 2020, the Hazoor Multi Projects stock was worth 18 paise. The stock has clinched a big contract from NHAI that sent the stock soaring on Wednesday, 19 October, when it opened at Rs 28.56 on the BSE on Wednesday morning. Robust volumes were noticed in this penny stock as well, signaling investor interest.
The NHAI contract
Hazoor Multi Projects authorities have stated in a regulatory filing that it won a significant project from NHAI. It envisages the company to handle all user fee collection at the Rampura toll plaza (Km 23/300) on the Vijaypur to Sankeshwar section (Km 0/000 to Km 79/700) of NH 548B. Also, it has been given the responsibility of maintaining, repairing, and maintaining the toilet blocks near the toll plaza.
The project under discussion is worth Rs 13.87 crore. It was awarded on the basis of bidding through e-tendering. The company said it will further strengthen its highway management and infrastructure operations portfolio.
New plans of Hazoor Multi Projects
Hazoor Multi Projects has recently set up a subsidiary company to develop power and renewable energy projects. It follows the announcement of the management in October to set up a 500 MW solar project in Andhra Pradesh that will entail an investment of Rs 2,500 crore. In January this year, the company also announced a solar park with a capacity of 1.2 GW in Solapur in the state of Maharashtra.
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