Hazoor Multi Projects share price up 5% on winning Rs 274 crore project bid

The share price of Hazoor Multi Projects rose after the company announced that it has emerged as the lowest bidder (L-1) for a project worth Rs 273.74 crore from MSIDC.

Hazoor Multi Projects share price rises: Shares of Hazoor Multi Projects jumped as much as 4.99 per cent to hit an intraday high of Rs 402.50 per share on Tuesday, August 20, 2024. 

The share price of Hazoor Multi Projects rose after the company announced that it has emerged as the lowest bidder (L-1) for a project worth Rs 273.74 crore from Maharashtra State Infrastructure Development Corporation (MSIDC).

In an exchange filing, Hazoor Multi Projects said, “We are pleased to inform you that the Company has emerged as Lowest Bidder for the Project of Maharashtra State Infrastructure Development Corporation (MSIDC).”

According to the order details, Hazoor Multi Projects will work towards widening and improvement to Paldhi Amalner dondaicha Nandurbar Dhanora to Gujarat State Border Road SH-6 KM 121/200 To 169/500 Tal.Dist. Nandurbar on engineering procurement and construction (EPC) mode.

The company will be required to complete the project in 2.5 years or 912 days. 

Hazoor Multi Projects, a Mumbai-based construction company established in 1992, specialises in infrastructure development and real estate. 

The company's portfolio includes developing multi storey residential towers and bungalows, undertaking national highway road projects as a sub-contractor for entities like the Maharashtra State Road Development Corporation Ltd. and National Highways Authority of India, and expanding into various infrastructure EPC contracting sectors.

The market capitalisation of Hazoor Multi Projects is Rs 718.40 crore, according to Bombay Stock Exchange (BSE). 

The 52-week high of the Hazoor Multi Projects stock is Rs 454 per share while its 52-week low is Rs 115 per share. 

At 11:12 AM, shares of Hazoor Multi Projects were trading 0.43 per cent higher at Rs 385 per share. By comparison, BSE Sensex was trading 0.53 per cent higher at 80,854.07 levels.