255% YTD Gain: Infra Stock Hit Upper Circuit For 11th Straight Session; Do You Own?

On Friday, December 8th, shares of Hazoor Multi Projects reached the 5% upper circuit limit at Rs 257.85 a share. Furthermore, the counter has reached the upper circuit limit for the 11th consecutive session. The share saw a rise of 86.91% throughout this time, closing at Rs 137.95 on November 23 and rising to an all-time high of Rs 257.85 on December 8.

Hazoor Multi Projects News

The company received an order of Rs 1129.81 crore on November 23, which sparked the boom in stock price. The order concerned the restoration and improvement of NH-66 (the former NH-17) to four lanes in the State of Maharashtra under NHDP-IV on the Hybrid Annuity method in Ratnagiri district, from Km. 241/300 to Km. 281/300 (the Arawali to Kante segment).

In a meeting on December 6, the company's board approved funding Rs 97.90 crore through the preferential issuance of shares. "To accelerate growth further and to augment the financial resources of the Company through raising of funds, aggregating amount of up to Rs. 97,90,00,000/-(Rupees Ninety SevenCrores and Ninety Lakhs Only), by way of creating, issuing and allotting up to 55,00,000 (Fifty Lakhs only) Equity Share having face value of Rs.10/-each, to the persons belonging to 'Non-Promoter, Public Category', as detailed in Annexure-l, on preferential basis, at an issue price higher than the floor price," said the firm in a regulatory filing.

Hazoor Multi Projects Share Price History

The stock price went up from Rs 1.09 to the current market price during the previous five years, resulting in a multibagger return of 23,555.96%. The stock price has risen from Rs 2.81 to the current market price during the previous three years, resulting in a multibagger return of 9,778.56%.

The stock price jumped from Rs 81.08 to the current market price during the course of the previous year, yielding a multibagger return of 218.02%. Year-to-date, the scrip gained 72.77 to the current market price, resulting in a multibagger return of 254.34%.

The scrip reached a 52-week-high of Rs 257.85 on (08/12/2023) and a 52-week-low of Rs 66.42 on (26/12/2022).