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Hazoor Multi Projects hits 5% upper circuit limit on November 18

Stocks
2 min Read Nov 18, 2024
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On Monday, November 18, 2024, Hazoor Multi Projects made waves in the share market investment community as its stock hit the 5% upper circuit limit. The stock was locked at ₹53.25, marking its upper price band for the day. 

This remarkable surge comes after the company announced its Q2 results for the financial year 2024-25 (FY25), which showed strong sequential growth despite a generally weak market sentiment.

Strong sequential growth in Q2FY25 results

Hazoor Multi Projects reported a massive jump in its Q2FY25 profit, reaching ₹4.65 crore, a significant improvement from ₹7.86 lakh in the June quarter. This surge in profit was a key driver for the stock's strong performance in the share market investment space. However, on a year-on-year (YoY) basis, the profit witnessed a 66% decline compared to ₹13.80 crore posted in Q2 of the previous year.

The company's revenue also saw impressive growth, with a 124% rise in its quarter-on-quarter revenue, reaching ₹76.48 crore from ₹34.15 crore in Q1. Despite the quarterly growth, the revenue was still 32% lower than the ₹112.25 crore recorded in Q2FY24. The strong quarterly performance indicates potential for future growth, making Hazoor Multi Projects a stock worth watching for investors looking to diversify their share market investment portfolios.

Key takeaways

  • Hazoor Multi Projects' stock surged by 5%, hitting ₹53.25 after announcing its Q2FY25 results, showcasing strong sequential growth in profit and revenue.

  • The company posted a sharp increase in profit, up to ₹4.65 crore in Q2, though the YoY performance showed a significant decline of 66%.

  • Hazoor Multi Projects' stock is up 300% from its 52-week low, delivering substantial multibagger gains for investors.

  • The appointment of seasoned IAS officer Radheshyam Laxmanrao Mopalwar as Additional Executive Director signals a step toward stronger leadership.

  • The stock's price is still down by 16% from its 52-week high of ₹63.90, indicating potential for future recovery and growth in the share market investment space.

Investors eyeing multibagger opportunities in the share market investment sector should keep an eye on Hazoor Multi Projects as it continues to display resilience and growth potential.