Hazoor Multi Projects shares rally 14% after Rs 913 crore solar EPC contract win

Hazoor Multi Projects saw its shares climb over 14 per cent in early trade on July 7, following the announcement of a major contract win. At 9:25 AM, the stock was trading at Rs 45.39 on the BSE, up Rs 5.72 or 14.42 per cent. The company’s current market capitalisation stands at Rs 944.16 crore.

The surge came after Hazoor disclosed it had received a Letter of Award (LOA) worth Rs 913 crore from Apollo Green Energy (formerly Apollo International). The order is for an engineering, procurement and construction (EPC) contract involving a 200 MW grid-connected solar PV project in the Khavda (Stage-3) solar park of Gujarat State Electricity Corporation Ltd (GSECL). The contract covers design, supply, construction, erection, testing, and commissioning, and is expected to be completed by March 2026.

Separately, Hazoor Multi Projects recently acquired a 51 per cent stake in Vyom Hydrocarbon through a Share Purchase Agreement worth Rs 1,02,000 in cash. This move is aimed at expanding the company’s footprint into new sectors including mining, oil and gas exploration, drilling services, EPC consulting, and environmental engineering solutions such as waste management and sustainability initiatives.

The stock has had a volatile year, hitting a 52-week high of Rs 63.90 on September 12, 2024, and a 52-week low of Rs 32.00 on March 5, 2025. At current levels, the stock trades 28.97 per cent below its 52-week high and 41.84 per cent above its 52-week low.