Stock jumps 5% on fresh highway deal buzz and market optimism

Shares of Hazoor Multi Projects rose nearly 5% to ₹28.90 in Wednesday’s trading session, supported by positive market sentiment and recent business developments. The stock opened at ₹28.48 compared to its previous close of ₹27.55, with strong activity as over 1.13 lakh shares were traded on the BSE.

The broader market also remained upbeat, with benchmark indices Sensex and Nifty 50 gaining around 0.5% amid global cues and ahead of the US Federal Reserve’s interest rate decision.

Investor interest was further lifted after the company secured a Letter of Award from the National Highways Authority of India (NHAI) for operating a user fee collection agency at the Chowlaggere fee plaza on NH-48 in Karnataka. The contract, awarded via competitive bidding, is valued at about ₹27.15 crore and includes maintenance of related facilities.

On the financial front, the company posted a 135% year-on-year jump in consolidated net profit to ₹6.45 crore in the December quarter. However, revenue declined 15% to ₹139 crore, while total expenses also dropped compared to the same period last year.

The company operates in renewable energy and EPC road projects.

Disclaimer: This story is for educational purposes only. Please seek consultation of an investment advisor before making any investment decisions.