Shares of Hazoor Multi Projects Limited rose as much as % to a day high of Rs 16.90 on 12 October after winning two NHAI toll contracts.

The National Highways Authority of India handed the company two one-year letters of award dated 9 October, both won through an e-tender. Together they are worth Rs 77.60 crore.

Fee plazas are the booths where vehicles pay to use national highways. Under these awards, Hazoor Multi Projects will run that collection at three plazas in Karnataka and look after the adjacent facility blocks.

These are collection contracts rather than construction jobs. The company will not build anything, only handle the daily work of collecting fees from passing vehicles.

The larger contract, valued at Rs 49.49 crore, covers the Kannoli and Harval plazas on NH-50.

The second, at Rs 28.10 crore, covers Gaddurur on NH-75. The first alone makes up about 64% of the total. Each runs for one year. The firm has been collecting orders for a while now.

In August, it received a Rs 28.47 crore NHAI contract for the Madangundi fee plaza in Jharkhand. On 8 September came another NHAI toll collection win, this one worth Rs 42 crore.

A bigger one followed on 18 September, when the company bagged a Rs 207 crore residential work order from Emerald Haven.

At 15:19 pm, it’s trading at Rs 16.85, up 3.56% on NSE against Friday’s close of Rs 16.27.

The stock opened at Rs 16.70, then slid to Rs 15.52 earlier in the session before bouncing back. That low is also its 52-week low.

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