Small-cap penny stock Hazoor Multi Projects rose as much as 5 per cent to ₹44.99 apiece on Tuesday’s trading session after subsidiary Square Port Shipyard secured an order from a shipping company located in the United Kingdom.
“In a boost to Maharashtra’s Maritime capability, a Shipyard located in the key region of Dabhol in Konkan region has entered into operationalization by carrying out the important Steel Cutting Ceremony. The all-important steel cutting ceremony, which marks the initiation of the ship building activity was carried out on the auspicious occasion of Gudi Padwa at their shipyard located at Dabhol – Usgaon,” the company said in a release dated March 31.
“The ship building and repair industry in India has immense potential, however its capability is grossly under-utilized. The Government of India has provided a boost to this sector through its recent allocation in the Financial Budget for 2025-26. We hope that our (today’s) steel cutting ceremony shall be an important addition to Maharashtra’s shipbuilding capability and assist in realizing Maharashtra’s goal of becoming a $1 Trillion economy by 2027. With this steel cutting for building of a new Landing Craft, a total of 5 vessels are under construction at the shipyard as on today. We are in talks with many other major foreign shipyards and hope to give even more positive news in the coming few month,” said Fattehsingh Patil, Director of Square Port Shipyard.
The Square Port Shipyard at Dabhol, which is a subsidiary of HMPL, was earlier owned by Bharati Defence Infrastructure Limited which went into insolvency in 2017-18.
Hazoor Multi Projects stock performance
Small-cap penny stock Hazoor Multi Projects has given multibagger returns to its long-term investors by soaring over 28,966.67 per cent in past five years. This means that if an investor had invested ₹1 lakh five years ago and held onto it, the investment would have grown to ₹2.9 crore today.
However, the stock has remained volatile in recent times. In past one year, Hazoor Multi Projects stock has ascended 44.18 per cent, however, has fallen over 24.87 per cent in last six months.
In terms of year-to-date (YTD), the shares of small-cap penny stock has plunged over 18.40 per cent.
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