Shares of Hazoor Multi Projects surged up close to 10% to hit an intraday high of ₹151.70 after winning a massive order.
What Happened: The company on Thursday morning said that it bagged an order from Arawali Kante Multi Projects Private. The project is also authorized by The Ministry of Road Transport & Highways. Under the order, the company will take up the rehabilitation and upgradation of NH-66 (formerly NH-17) encompassing the stretch from 241km to 281km, specifically the Arawali to Kante section.
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This initiative aims to convert the existing infrastructure into a four-lane highway in the State of Maharashtra, falling under the National Highways Development Project (NHDP-IV). The project is structured under the Hybrid Annuity mode and is concentrated in the Ratnagiri district.
The projected value of the aforesaid project is around ₹1,129.81.
Price Action: Shares of Hazoor Multi Projects were locked in 10% upper circuit shortly after market open on Friday.
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