Hazoor Multi Projects locked in upper circuit on Rs 1,130-crore order win

Hazoor Multi Projects was locked in a 10 percent upper circuit on November 24 after its subsidiary won a road project worth Rs 1,130 crore. The stock was locked at Rs 151.70 on the National Stock Exchange.

The company received orders worth Rs 1,130 crore to upgrade and rehabilitate a section on NH-66 in Ratnagiri, Hazoor Multi Projects told exchanges a day earlier.

It passed on the project to its subsidiary, Hazoor Infra Projects, through an endorsement agreement.  The Ministry of Road Transport & Highways gave the green light to the arrangement, which involves the rehabilitation and upgrading of NH-66, specifically the Arawali to Kante section, to four lanes in Maharashtra’s Ratnagiri region.

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The anticipated value of the project, which aims to enhance the road infrastructure, is approximately Rs 1,129.81 crore.

Also Read: Hazoor Multi Projects bags orders worth Rs 1,130 crore

Hazoor Multi Projects stock has given a return of 1.27 percent over the past six months. The benchmark Nifty50 index has gained 8.29 percent during the period

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