The shares of small-cap infra sector company Hazoor Multi Projects escalated in early trade on Wednesday despite a decline in the domestic stock market after the company announced receipt of a Letter of Award (LOA) from the National Highways Authority of India (NHAI) for the collection of user fee. The company announced a one-year contract valued at over Rs 24 crore for toll collection at the Ramnagar fee plaza. This plaza is located at Km 1280.370 on the Baran-Shivpuri stretch of New NH-27, covering the section from Km 1251.814 to 1305.087.

"Hazoor Multi Projects Limited has been awarded the Letter of Award (LOA) by the National Highways Authority of India (NHAI) for engaging as the Contractor for collection of user fee at Ramnagar fee plaza at Km 1280.370 from BaranShivpuri section from Km 1251.814 to 1305.087 on New NH27 in the State of Madhya Pradesh and upkeep/maintenance of adjacent Toilet blocks including recouping the consumable items," the company said in exchange filing.

Share Price Today

The infra stock started the session in the green at Rs 21.70 as compared to last closing of Rs 21.37 on BSE. The stock escalated the momentum further on the back of buying interest to touch an early high at Rs 21.79, up 2 per cent from last closing. Meanwhile it's 52 week high and low values stood at Rs 45.20 and Rs 20.98, respectively.

Share Price History

According to BSE Analytics, the shares have given a multibagger return over a long tenure, surging over 1,000 per cent in five years. In the last three years, the scrip rose nearly 20 per cent. However, in a year, the Infa sector stock corrected over 50 per cent. This year till date, the stock dipped over 40 per cent. In the last 30 days, the stock slumped nearly 9 per cent.

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Stock Market Today

The domestic equity indices--Sensex and Nifty--were trading lower amid a rise in crude prices due to uncertain geopolitical conditions. Last seen, BSE Sensex was trading at 77,624.86, down 0.68 per cent or 529.39 points.

Disclaimer: This story is for informational purposes only. It should not be considered investment advice.