HG Infra Engineering jumps 4.32% on ₹610 crore NHAI project win

HG Infra Engineering shares rallied over 4% to ₹948.35 apiece in early deals on Monday, buoyed by the company's announcement of securing a ₹610 crore project from the National Highways Authority of India (NHAI).

At 11:43 am, shares of HG Infra Engineering were trading at ₹926.20, up 1.93%, on the NSE.

In a filing to exchanges, the construction engineering company informed that it received a letter of acceptance from the NHAI for an EPC-based project of ₹610 crore. The company will build a 4-lane elevated corridor of Kalimandir-Dimna Chowk Baliguma (Jamshedpur) Section of NH33 for a length of 10 km.

The construction period for this highway project is 30 months.

HG Infra Engineering shares have been on an upward trend this month, driven by the company securing multiple orders from NHAI and railways.

Earlier this month, HG Infra Engineering secured a project for a 4-lane access-controlled highway with paved shoulders, stretching from Tamil Nadu/Andhra Pradesh Border (Design Chainage km 61+51) to Puttur (Design Chainage Km 81+450) of NH-716.

Additionally, the infra-engineering firm will be undertaking the construction of a 6-lane highway with paved shoulders from Mallavaram (Design Chainage Km 97+100) to Renigunta (Design Chainage Km 114+500) of NH-71 in Andhra Pradesh. This project comes under the Hybrid Annuity Mode and is part of the NH(O) (Chennai-Tirupati Package-II).

The company also received a letter of acceptance from South Central Railway for a ₹447.11-crore project in the first week of this month.

Under this project, the company will undertake engineering, procurement, and construction (EPC) work for track doubling between Karanjgaon and Aurangabad stations in Maharashtra. The project includes electrification and signalling works, in addition to the construction work, between the two stations in the Nanded Division of the South-Central Railway, as informed by the company to the stock exchanges on March 2.