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₹77 Cr Toll Orders Boost Hazoor Multi Projects Stock
12 Oct
Summary
- Hazoor Multi Projects secured over ₹77 crore in toll collection orders.
- The stock price rose 4.50% despite a broad market downturn.
- New orders were awarded by the National Highways Authority of India.
Despite a challenging day for the Indian stock market, Hazoor Multi Projects, a small-cap company, saw its shares climb by 4.50%. This upward movement occurred even as the Nifty 50, BSE Sensex, and Bank Nifty indices experienced significant losses.
The surge in Hazoor Multi Projects' stock was primarily driven by the company receiving substantial new orders for toll fee collection. In total, the company secured over ₹77 crore in orders over a two-day period. These fresh contracts were awarded by the National Highways Authority of India (NHAI).
Specifically, on Saturday, Hazoor Multi Projects was awarded two orders totaling ₹49.49 crore. This was followed by another order worth ₹28.10 crore received on Monday. These substantial new contracts contributed to a positive sentiment among investors, making the stock an attractive option despite the prevailing market weakness.
The company's stock has shown resilience and long-term growth potential. It traded ex-split on November 7, 2024, following a 1:10 stock split. Over the past five years, the adjusted share price has risen by approximately 850%, indicating a strong performance for long-term investors.
