H G Infra Engineering becomes an L-1 bidder for the NHAI project; Stock under pressure

27 Jan 2022 , 11:44 AM

H.G. Infra Engineering Ltd has announced that the company has been declared as L-1 bidder by National Highways Authority of India (`NHAI’), New Delhi for the road project.

As per regulatory filing, the project is for 6-laning with access control from km 29.435 to km 74.168 of Neelamangala – Tumkur including Tumkur bypass section of NH-48 (old NH-4) in the State of Karnataka on EPC mode under Bharatmala Pariyojna.

Further, the NHAI bid project cost is Rs1112.10cr and HGINFRA bid project cost is Rs844.11cr. The estimated completion period for the project is 3 years.

At around 11:43 AM, H.G. Infra Engineering was trading at Rs585.25 per piece down by Rs0.3 or 0.05% against previous closing of Rs585.55 per piece on the BSE.