HG Infra Engineering Gains 4% as Lowest Bidder for Rs 716.11-Crore Railway Project

12 Jan 2024 , 12:07 PM

HG Infra Engineering’s stock price rose nearly 4% in early trade on January 12 after securing the lowest bidder status for a Rs 716.11-crore project by the Central Railway.

At the time of writing, HG Infra Engineering Ltd was trading at Rs 917.50, up by 3.64%, on the BSE.

The project involves the construction of a new broad gauge line between Dhule (Borvihir) and Nardana in Maharashtra, with a project cost of Rs 716.11 crore and a construction period of 30 months.

In December, the company received a Rs 36.20-crore letter of award from NTPC for transporting pond ash from NTPC Ramagundam to NHAI road construction projects, extendable for another six months.

On December 1, HG Infra Engineering’s subsidiary, HG Varanasi-Kolkata PKG-13 Private Limited, obtained a financial closer letter from NHAI for constructing the six-lane Greenfield Varanasi-Ranchi-Kolkata Highway in Jharkhand under Bharatmala Pariyojana on hybrid annuity mode (HAM).

The stock reached a 52-week high of Rs 1,016.75 on September 6, 2023, and a 52-week low of Rs 619.15 on January 27, 2023. It is currently trading 9.56% below its 52-week high and 48.51% above its 52-week low.

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