1100% rally in five years! Small cap multibagger stock under ₹50 to be in focus on Wednesday; here's why

Hazoor Multi Projects, a small-cap stock with a market capitalisation of ₹649 crore, is likely to attract investors' attention during Wednesday's session, August 12, after the company secured a work order from the National Highways Authority of India (NHAI).

In an exchange filing post-market hours on Tuesday, the company said it had received a new order for user-fee collection services.

The company said it had received a Letter of Award (LOA) dated August 10, 2026, from NHAI for a user-fee collection agency contract, awarded through competitive bidding via e-tender.

The contract covers the Ramnagar fee plaza at Km 1280.370 on the Baran-Shivpuri section, from Km 1251.814 to Km 1305.087 on the new NH-27 in Madhya Pradesh. It also includes the upkeep and maintenance of adjacent toilet blocks, including replenishment of consumable items.

The project is scheduled to be completed within 12 months from the date of commencement, while the order value stands at ₹24.33 crore, according to the filing.

Shares remain volatile in recent months

The company's shares have been under sustained selling pressure since hitting a fresh all-time high in September 2024, resulting in a significant erosion of shareholder wealth. From the peak of ₹63.90, the stock has fallen to ₹21.40 apiece, translating into a 66% decline.

After ending CY25 with a 33% decline, the selling pressure continued into the current year, with the stock falling another 40% so far in 2026. The stock has ended five of the last seven months in the red, with March recording the steepest monthly decline of 27%.

The prolonged weakness has also pushed the stock to its lowest level since December 2023, which it touched last month.

Long-term performance remain intact

Despite the recent correction, Hazoor Multi Projects has delivered exceptional returns over the longer term.

Between April 2021 and September 2024, the small-cap stock attracted strong buying interest, surging from ₹0.43 apiece to ₹55.33, translating into a massive 12,767% gain. During this period, the stock also touched a fresh all-time high of ₹63.90 apiece.

On a yearly basis, the stock delivered positive returns in five of the last six years, with three of those years qualifying as multibagger years. 2021 was its best-performing year, when the stock surged 724%, followed by gains of 373% in 2023 and 192% in 2022.

Despite the recent losses, the stock remains 60% higher over the past three years and nearly 1100% higher over the past five years, highlighting the substantial long-term gains it has delivered despite its recent correction.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.