Ceigall India JV gets 4 MoRTH road project LOAs worth ₹2,150 crore; here's why the stock fell over 4%

In a regulatory filing, the company said that jointly with Sushee Infra Mining, it has received four LOAs from the Ministry of Road Transport & Highways (MoRTH) aggregating to a total bid cost of ₹2,149.62 crore.

Ceigall India holds a 74% stake in the joint venture, while Sushee Infra Mining holds the remaining 26%.

The LOAs include road construction projects under the Engineering, Procurement and Construction (EPC) mode.

Ceigall said that the projects involve the construction of road sections under NH-913, also known as the Frontier Highway. These include the Sarli-Huri section from km 0.000 to km 78.38 and three sections of the Huri-Taliha stretch covering km 0.000 to km 55.725, km 55.725 to km 113.25, and km 160.75 to km 209.90.

The contracts have been awarded by a domestic entity.

The four road projects have construction periods ranging from 36 to 48 months, followed by a five-year maintenance period. Three of the projects have a construction period of 36 months, while one project has a 48-month construction period, the company said in the filing.

Why the stock fell on Tuesday

Ceigall India shares slipped as the company, on August 17, informed the exchanges that a tender for which it had emerged as the L1 bidder with an aggregate bid cost of ₹330.84 crore has been cancelled by the Public Works Department (PWD), Government of Delhi.

“…this is to inform that as per the information available on the Official e-Tendering System Government of NCT of Delhi and further communicated via email dated August 17, 2026, Tender Id: 2026_PWD_289374_1 have been cancelled in view of documentary consideration,” the company said in a filing.

Ceigall India Q1 results

Ceigall India had posted a 35% year-on-year (YoY) increase in its net profit at ₹75 crore in the June quarter of FY27. Its net profit stood at ₹56 crore in the quarter ended June 2025.

Its revenue from operations also increased to ₹901.5 crore in the reporting quarter from ₹818.3 crore in the same period a year ago.

Order inflow during the period under review stood at ₹655.4 crore. The company maintained a strong order book of ₹18,568.3 crore as of June 30, 2026.

Ceigall India share price trends

At 12:45 PM, Ceigall India shares were trading at ₹306.95 apiece on the National Stock Exchange, falling 2.85%. The stock has slipped 4.2% to touch an intraday low of ₹302.30 apiece.

From the beginning of the year, Ceigall India shares have jumped 13%. Over a month’s time, the stock has fallen 10%, while it has gained 5.4% in the past six months.

Shares of the firm had hit a 52-week high of ₹405.70 on June 30, 2026, and a 52-week low of ₹222.61 on December 9, 2025.

According to NSE data, as of August 18, 2026, Ceigall India has a total market capitalisation of ₹5,348.96 crore.