Hazoor Multi Projects Shares Surge Over 4% Amid Potential Merger With Square Port Shipyard

Hazoor Multi Projects Ltd. (HMPL) witnessed a 4.7% surge in its stock price, reaching Rs 623 per share, following the company's announcement regarding a potential merger with Square Port Shipyard Private Limited. The Board of Directors of HMPL is scheduled to meet on September 16, 2024, at the company's registered office to evaluate the proposal for the merger. This move aims to combine the strengths and synergies of both businesses, benefiting all stakeholders.

As part of this process, HMPL plans to form a "Specific Transaction Committee" tasked with overseeing and managing the necessary steps to ensure the merger's smooth and timely implementation. This committee will act on behalf of the company to facilitate the merger and monitor its progress.

HMPL's stock has performed exceptionally well over the past year, reaching a 52-week high of Rs 623. The stock has seen a tremendous rise, gaining over 332% in the last year alone. Starting from a price of around Rs 143.10, HMPL has cemented itself as a multi-bagger in the Indian market. Over the past five years, the stock has skyrocketed from Rs 1.50 to Rs 623, reflecting an extraordinary growth of 41,100%.

Recently, HMPL secured several high-value contracts, contributing to its growth trajectory. The company was awarded a work order from B.G. Shirke Const. Tech. Pvt. Ltd. for excavation projects at multiple sites, including Pahadi Goregaon, Shirdhon, Khoni, Nawde, CPWD, Taloja, Thane, and Kanamwarnagar. The total value of these projects is Rs 30 crore, excluding taxes.

In addition, HMPL received another work order from Welspun Enterprises Limited for stacking and dewatering works, valued at Rs 40 crore. These contracts reflect the company's expanding footprint in infrastructure development and its ability to secure high-profile projects.

Moreover, HMPL emerged as the lowest bidder (L-1) for a project awarded by the Maharashtra State Infrastructure Development Corporation (MSIDC). This project, valued at Rs 273.74 crore, involves widening and improving the Paldhi Amalner Dondaicha Nandurbar Dhanora to Gujarat State Border Road (SH-6) on an EPC (Engineering, Procurement, and Construction) basis. The project is expected to be completed within 2.5 years.

To further enhance liquidity and attract more investors, HMPL recently announced a stock split, pending shareholder approval. The company plans to split the face value of its shares from Rs 10 each to Rs 1 each. This move is expected to generate increased interest in the stock in the coming weeks.

Founded in 1992, Hazoor Multi Projects Ltd. has evolved from a residential construction company to a key player in infrastructure development. The company primarily operates as a subcontractor for national highway projects, working with government agencies such as the Maharashtra State Road Development Corporation and the National Highways Authority of India.

In recent years, HMPL has expanded its focus to include EPC contracting, strengthening its position in the infrastructure development sector. The company's strategic shift towards large-scale infrastructure projects, coupled with its financial performance and stock market success, has positioned it as a leading player in the Indian market.