Hazoor Multi Projects (BSE: unlisted) saw its share price surge over 3% Thursday before retracting, amidst a mixed market session.
- Rating Boost: CRISIL assigned ‘CRISIL BBB+/Stable’ to ₹476 crore long-term facilities.
- Short-Term Rating: A ‘CRISIL A2’ rating was given to short-term facilities.
- Project Transfer: The company took over a Ministry of Road Transport and Highways project via harmonious substitution.
- Financial Outlook: CRISIL anticipates a healthy debt service coverage ratio.
The ratings agency noted the inherent benefits of the Hybrid Annuity Model (HAM) but cautioned about implementation risks and cost volatility. The stock has shown varied performance in recent months.
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