Shares of Infra-to-energy player Hazoor Multi Projects Ltd (HMPL) ended the trading session in the green even as the benchmark Sensex fell by nearly 548 points, as a fresh spike in crude oil prices, unabated foreign fund outflows, and rising bond yields dented investor sentiment. Erasing opening gains, the 30-share BSE Sensex tanked 547.65 points, or 0.76 per cent, to settle at 71,924.68. During the day, it slumped 796.23 points, or 1 per cent, to 71,676.10. The 50-share NSE Nifty dropped 157.10 points, or 0.70 per cent, to end at 22,363.35. The company’s stock today closed at Rs 17, up 4.49 per cent or Rs 0.73 on the NSE and on the BSE, the stock closed at Rs 16.80, up 3 per cent or Rs 0.49.
The company announced it received Letters of Award (LOA) from the National Highways Authority of India (NHAI) for user fee collection and highway maintenance contracts across multiple locations in Karnataka.
What’s behind the rally?
The action in the stock comes as the company, with a market cap of Rs 483.21 crore, in its latest exchange filing today informed that it has been awarded the responsibility of collecting toll from motorists at Gaddurur (Nangli) Toll Plaza located at Km 217.450 on the Mulabagilu to Andhra Pradesh-Karnataka border section of National Highway-75 (old NH-4) in Karnataka.
According to the investment thesis, this stock has long-term upside potential. According to the report, the company’s share price is approximately Rs 15.8 on October 12, 2026, while the bull case target is Rs 200 by October 2028. This means the stock could reach a value of approximately 12.7 times its current price.
Square Port Shipyard
The company also controls the Square Port Shipyard in Dabhol. This is a deep-water shipyard spread over approximately 184 acres, which the company acquired for Rs 184.5 crore. The company is now seeking government assistance to spend Rs 1,469 crore on expanding the shipyard.
The company is also preparing to expand its presence in the defence sector. The shipyard’s first phase plans to repair defence vessels up to 2,000 tons, while the second phase will develop the capability to build new defence vessels. Furthermore, the company has signed a Damen partnership agreement, which could provide access to larger ship designs. However, according to reports, the company has not yet received any orders from the defence sector.
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