Multibagger BSE SME stock hits 5% upper circuit despite weak Indian stock market mood | Stock Market News

Multibagger BSE SME stock Hazoor Multi Projects hit the 5 per cent upper circuit limit on Monday, November 18 following its Q2 results for the financial year 2024-25 (FY25). The stock defied the weak market mood, and was locked at ₹53.25, its upper price band.

The company on Thursday, November 14, posted a strong sequential growth in its profit and revenue for Q2FY25, even though on a yearly basis, the performance was bleak.

Hazoor Multi Projects posted a multi-fold jump in its standalone Q2 profit to ₹4.65 crore as against ₹7.86 lakh in the June quarter of FY25. However, on a YoY basis, the profit declined 66 per cent from ₹13.80 crore posted in the September quarter last year.

Meanwhile, revenue from operations witnessed a 124 per cent quarter-on-quarter rise to ₹76.48 crore from ₹34.15 crore in the year-ago quarter. The revenue stood at ₹112.25 crore in the same quarter in FY24.

Apart from the financial results, the company’s board also approved the appointment of Radheshyam Laxmanrao Mopalwar as an Additional Executive Director, with effect from November 14, 2024.

Radheshyam Laxmanrao Mopalwar, aged 66, is a seasoned IAS officer who retired in 2018. Following his retirement, he was reappointed by the Maharashtra government as the Vice Chairman and Managing Director (VC&MD) of the Maharashtra State Road Development Corporation (MSRDC), primarily to oversee the completion of the Samruddhi Mahamarg project—a major 701 km expressway connecting Nagpur to Mumbai. He continued in this role for nearly six years after his retirement.

In addition to his responsibilities at MSRDC, Mopalwar served as the Director General of the Infrastructure War Room within the Maharashtra Chief Minister’s Office (CMO) for over a year.

Stock Price Trend

On Monday, the stock opened at ₹51 apiece, half a per cent higher than its previous close of ₹50.75. During the day, it touched an intra-day low of ₹49.15 and a high of ₹53.25.

The stock had scaled a 52-week high of ₹63.90 on September 12, 2024, and is currently trading over 16 per cent lower from that level. Meanwhile, it is up 300 per cent from its 52-week low of Rs13.30 scaled on November 11, 2023.

In the last one year, the stock has rallied 295 per cent while in the past five years, it is up a whopping 33,180 per cent, delivering multibagger gains to investors.

Earlier this year, the company announced a stock split in the ratio of 1:10, meaning that one share of face value of ₹10 each would be split into 10 shares of face value of Re 1 each. Its record date was fixed as November 7, 2024.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.