HG Infra Engineering rallies over 2% on ₹862-crore order win from NHAI

HG Infra Engineering shares gained as much as 2.5% to hit a high of ₹934 apiece on NSE on Tuesday after the company announced bagging a project worth ₹862 crore from the National Highway Authority of India (NHAI).

In a stock exchange filing, the company said that it received a letter of award (LoA) from the NHAI for an Andhra Pradesh-based project.

As per the project details, the company said that it pertains to an access controlled highway of 4 lanes with paved shoulders from Tamil Nadu/Andhra Pradesh border to Puttur of NH-716. The project also involves 6 lanes with paved shoulders from Mallavaram to Renigunta of NH-71 in the state of Andhra Pradesh on hybrid annuity mode (HAM).

The hybrid annuity mode is set to be executed under NH(O), Chennai Tirupati Package-II, with a completion period of 24 months.

HG Infra Engineering is in the business of engineering, procurement, and construction (EPC), specializing in the maintenance of roads, bridges, flyovers, and various other infrastructure contract works.

Earlier this month, HG Infra Engineering won a project for a 4-lane elevated corridor construction at Kalimandir- Dimna Chowk- Baliguma (Jamshedpur) section of NH-33 under EPC mode in Jharkhand. The project cost is ₹610.11 crore and its construction period is fixed at 30 months.

On March 2, HG Infra Engineering bagged a project from South Central Railway for doubling of track between Karanjgaon station and Aurangabad stations. The project also includes the electrification and signaling works in connection with Aurangabad Ankai Doubling Project in Nanded Division of South-Central Railway. The project cost is ₹447.11 crore.

At 3:05 pm, HG Infra shares were trading 1.12% lower at ₹900.9 apiece on NSE.