Hazoor Multi Projects Ltd, an infrastructure and real-estate-based company’s stock has turned out to be a Multibagger Penny Stock. Investors, who invested their money in this stock have become millionaires in 5 years. As per reports, 5 years ago, i.e.- in August 2019, the price of this share was only Rs 1.45.
However, on July 30, it closed at Rs 424.10 on the Bombay Stock Exchange. Keeping these details in mind, if a person had invested Rs 1 lakh 5 years ago, the amount would have now increased to Rs 29,241,379. Similarly, Rs 1 lakh invested a year ago has now grown to Rs 3,54,663.
Multibagger Penny Stocks are similar to penny stocks. However, a difference between these stocks is their price variably increase from the time of the investment. For example, as an investor, if one invests in a stock priced at Rs 5, and over time, the price soars to Rs 10, then it is called a two-bagger.
The Indian government has concentrated on infrastructure in the past few years and its effect has been experienced by the companies associated with this sector. Due to the growth in the infrastructure sector, the shares of companies associated with it have also gone up.
Shares of the Hazoor Multi Projects Ltd, a small-cap company engaged in the construction sector, had increased by 254 per cent in 2023. It surged around 5 per cent in February as well. With this surge, its shares had hit the upper circuit. An upper circuit is the highest percentage increase in the price of a stock in a single trading session.
The 52-week high level of shares of the real estate company was Rs 393 while the 52-week low level was Rs 78. In the last 5 days, shares of Hazur Multi Projects provided a return of 11 per cent to the investors. In the last 6 months, it gave a bumper return of 187 per cent from the level of Rs 126.
The company received an order worth Rs 1,130 crore in the second week of December 2023 to maintain and upgrade a section of National Highway NH-66 in Ratnagiri, Maharashtra.
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