HMPL Shares in Focus: Key Updates on Stake Change and New NHAI Contract

Shares of Hazoor Multi Projects Ltd (HMPL) are on investors’ radar following significant corporate updates shared in recent exchange filings. After market hours on Tuesday, the company informed investors about developments related to its stake in Vyom Hydrocarbon Private Limited (VHPL).

In its filing, HMPL stated that it had previously acquired a 51% stake in VHPL and appointed its directors to the board of VHPL. Subsequently, VHPL acquired a 100% stake in Quippo Oil and Gas Infrastructure Limited, making Quippo a step-down subsidiary of HMPL.

However, convertible debentures (CCDs) worth around Rs 22.30 crore issued by VHPL in July 2025 were later converted into equity. This conversion led to HMPL’s shareholding falling below the majority threshold. As a result, in accordance with accounting rules, the company lost control over VHPL. Consequently, both VHPL and its subsidiary Quippo are no longer subsidiaries of HMPL.

The stock, listed on the BSE Ltd, opened in the red at Rs 35.29 against the previous close of Rs 35.31. Amid a sell-off in the broader market, the stock dipped further and touched a low of Rs 34.57. Last seen, it was trading at Rs 35.16, down 0.42% or Rs 0.15.

In a separate filing on Tuesday, HMPL announced that it received a Letter of Award (LOA) from the National Highways Authority of India (NHAI). Under the agreement, the company will collect toll fees from vehicles on the four-lane stretch between Challakere and Hiriyur (km 359.120 to 411.560; design km 358.500 to 414.205) at the Balenahalli toll plaza (design km 397.400) on NH-150A in Karnataka. HMPL will also be responsible for maintenance and providing necessary supplies for the toilets located near the toll plaza.

The company stated that the contract was awarded by NHAI through an e-tender under a competitive bidding process. The total cost of the project stands at Rs 44,23,80,000, approximately Rs 44.24 crore. This new contract is expected to bolster HMPL’s revenue streams and enhance its presence in the toll collection and infrastructure maintenance sectors.

These developments highlight HMPL’s strategic moves and the potential impact on its financial performance. Investors are advised to keep an eye on these updates and the company’s future announcements for further insights into its business strategies and market position.

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