Hazoor Multi Projects Ltd: 233% Return in 2 Years with Strategic Acquisition Update

Mumbai: Shares of Mumbai-based Hazoor Multi Projects Ltd (HMPL) are in focus as the company has informed exchanges that it has formally submitted binding offers to acquire part of Gammon Engineers and Contractors Private Limited (GECPL), a subsidiary of Gammon India Limited. This marks a significant step for the company in expanding its presence in the Engineering, Procurement, and Construction (EPC) sector. GECPL, a subsidiary of Gammon India Limited, is one of India’s oldest engineering and construction companies. It was established in 1922 by JC Gammon.

HMPL views this opportunity as a strategic fit to expand its EPC portfolio and enhance its presence in the infrastructure sector, the company said in an exchange filing.

Share Price Today The stock started today's trading session in the green at Rs 44.70 against the previous close of Rs 43.62 on the BSE. However, the counter dipped amid profit booking and touched the intraday low of Rs 42.30. Last seen, it was trading at Rs 43.40, with a fall of 0.50 per cent from the closing price of the last trading session. The 52-week high of the stock is Rs 63.90 and the 52-week low is Rs 32. The market cap of the company is Rs 947.24 crore.

Share Price History According to the BSE Analytics, the stock has given a multibagger return of 233.87 per cent in two years. While it has gained 16.35 per cent in one year, the counter has corrected 18.64 per cent so far this year.

Wins Order From Oil India Hazoor Multi Projects recently announced that one of its arms has bagged a Rs 280.1 crore order from Oil India Ltd to rent out a drilling rig. The state-owned 'Maharatna' company has given the contract to Quippo Oil and Gas Infrastructure, which was acquired by Hazoor recently.

Earlier, it incorporated a new arm to undertake power and renewable energy projects. The development comes after the company informed about its plans to set up a 500 MW solar project in Andhra Pradesh at an investment of Rs 2,500 crore, last month, and a 1.2 GW capacity solar park in Solapur, Maharashtra in January.

(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)