Hazoor Multi Projects Awarded NHAI Contract in Karnataka, Share Price Sees Profit Booking
Hazoor Multi Projects Receives Letter of Award from NHAI
Hazoor Multi Projects, a leading infrastructure and real estate company, has received a letter of award from the National Highways Authority of India (NHAI) for user fee collection at the Chowlaggere fee plaza on NH-48 in Karnataka.
The contract, awarded through competitive e-tendering, pertains to the Hassan–Maranahally four-laning stretch of the highway and includes upkeep and maintenance of adjacent toilet blocks and recouping consumable items. The contract duration is one year, with a total consideration of Rs 27.16 crore.
Hazoor Multi Projects engages in infrastructure and real estate businesses. The company's shares saw profit booking on Friday, falling 4% to Rs 27.62 per share on the NSE, in line with the broader market fall.
The NSE indices, including Sensex and Nifty, extended losses for the third straight session on Friday, falling 2% amid weak global cues, persistent foreign fund outflows, and rising crude oil prices linked to the ongoing conflict in West Asia. The Sensex was down 1,437.47 points or 1.89% at 74,596.95, and the Nifty slipped to 23,162.70, down 476.45 points or 2.02%.
Investor Takeaway
Investors should be cautious of profit booking in Hazoor Multi Projects' shares due to the broader market fall.
More in Market
SpaceX Seeks Record $75 Billion IPO, Potentially Positioning Elon Musk as the World's First Trillionaire
Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
