The share price of Hazoor Multi Projects was locked at the 10 percent upper circuit in early trade on November 24 after the company bagged orders worth Rs 1,130 crore to upgrade and rehabilitate a section of NH-66 in Ratnagiri.
There were pending buy orders of 431,438 shares, with no sellers available.
The work has been endorsed to Hazoor Infra Projects Private Limited (a wholly owned Subsidiary Company & New Concessionaire) received from Arawali Kante Multi Projects Private Limited (Substituted Concessionaire) and authorised by the road transport ministry for rehabilitation and up-grade of NH-66 (old NH-17) from 241/300 km to 281/300 km (Arawali to Kante section) to four lanes in Maharashtra under NHDP-IV on Hybrid Annuity mode in Ratnagiri district,” the company said in its press release.
The estimated value of the project is approximately Rs 1,129.81 crore with annuities at Rs 523 crore, interest on annuities at Rs 463 crore, and operation and maintenance costs at Rs 143 crore.
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The company reported a 45.8 percent rise in its September quarter net profit at Rs 13.79 crore.
At 9:18am, Hazoor Multi Projects was quoting Rs 151.70, up Rs 13.75 on the BSE. The share touched a 52-week high of Rs 164.40 and a 52-week low of Rs 73.15 on June 5, 2023 and December 26, 2022. The stock is trading 7.73 percent below its 52-week high and 107.38 percent above its 52-week low.
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