Small-cap stock under ₹20: Despite heavy selling in the key benchmark indices of the Indian stock market, some small-cap stocks witnessed sharp upside during the Monday session. Hazoor Multi Projects shares are one of them. The small-cap company with a market cap of around ₹630 crore finished 4.50% upside despite the Nifty 50 index losing 157 points, the BSE Sensex shedding 547 points, and the Bank Nifty index losing around 338 points.
According to stock market experts, the small-cap stock witnessed a sharp upside movement after successive toll collection orders worth over ₹77 crore. They said that Hazoor Multi Projects Ltd received two toll fee collection orders totalling ₹49.49 crore on Saturday, and on Monday, it received one more order totalling ₹28.10 crore. So, small-cap stocks under ₹20 received more than ₹77 crore in toll fee collection orders in two days, which attracted the attention of Dalal Street bulls despite sharp selling in the Sensex, Nifty and Bank Nifty indices.
Why has this small-cap stock risen despite the stock market sell-off?
Speaking on the reason that fueled the bull sentiment regarding Hazoor Multi Projects shares, Anuj Gupta, a SEBI-registered market expert, said, “The company has received toll fee collection orders in a gap of two days. It bagged two orders worth ₹49.49 crore on Oct 10, 2026, followed by another order worth ₹28.10 crore on Monday, bringing the total of fresh orders to over ₹77 crore. This fueled the positive sentiments among Dalal Street bulls, and the small-cap stock under ₹20 finally ended up 4.50% upside despite weak trends in the Indian stock market.”
The SEBI-registered expert said the fresh orders have been awarded by the NHAI to this small-cap company Hazoor Multi Projects Ltd.
Hazoor Multi Projects share price target
On what the technical chart suggests about the Hazoor Multi Projects shares, Mahesh M Ojha, VP — Research and Business Development, said, “The stock has strong support at ₹13.80. On the upside, the small-cap stock is facing resistance at ₹18.80. On breaking above this resistance on a closing basis, we can expect the stock to touch ₹20.50 and ₹22, respectively.”
Hazoor Multi Projects’ fresh NHAI orders
The small-cap company informed the Indian exchanges about the receipt of resh order on Monday, saying, “…. relating to the Letter of Award (LOA) by the National Highways Authority of India (NHAI) for engaging as the Contractor for collection of user fee at Gaddurur (Nangli) Fee Plaza at Km 217.450 of Mulbagilu to AP/KNT Border Section of NH-75 (Old NH-4) from Km. 216.912 to Km. 239.100 in the State of Karnataka and upkeep/maintenance of adjacent Toilet blocks, including recouping the consumable items.”
On the broad consideration or size of the orders) /contract(s), the exchange filing said, “Rs. 28,10,20,800/- (Rupees Twenty-Eight Crores Ten Lakhs Twenty Thousand Eight Hundred Only).”
Prior to this NHAI order worth ₹28.10 crore, the NHAI had awarded two more orders worth ₹49.49 crore on Saturday, the company reported, saying, “We are pleased to announce that M/s. 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 the collection of user fees.
The small-cap company said that they have been awarded the contract for the collection of tolls at the following Fee Plazas:
1] Kannoli Fee Plaza at km 241.100 & Harval Fee Plaza at km 303.400 for the Development and Upgradation of Bijapur-Gulbarga-Homnabad section of NH-218 (New NH-50) to 2-lane with Paved Shoulders from km 195.000 to km 418.000 in the state of Karnataka and upkeep/maintenance of adjacent Toilet blocks, including recouping the consumable items.
2] Gaddurur (Nangli) Fee Plaza at Km 217.450 of Mulbagilu to AP/KNT Border Section of NH-75 (Old NH-4) from Km. 216.912 to Km. 239.100 in the State of Karnataka and upkeep/maintenance of adjacent Toilet blocks, including recouping the consumable items.
Hazoor Multi Projects share price history
The small-cap stock under ₹20 traded ex-split to find the eligible shareholders for the benefit of a 1:10 stock split on 7 November 2024. After the stock split, the stock has remained beaten down, but it is still a multibagger for long-term investors.
In the last five years, Hazoor Multi Projects’ share price has risen from around ₹1.80 to ₹16.80 apiece, clocking a nearly 850% rally. This price is the adjusted stock price post-split. In this calculation, we are not adding the benefit to long-term investors who held this scrip prior to the stock split.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
