HG Infra Engineering Ltd has received a road project in Haryana worth Rs 522 crore, taking company’s share price up by almost 11 per cent on Friday.
The project, given by the National Highways Authority of India (NHAI), is aimed for the construction of a bypass in Rewari district. The 14.4 km in length project is expected to be completed in 2 years.
The company’s scrip rallied 10.35 per cent to Rs 269 on the BSE. On the NSE, it jumped 10.91 per cent to Rs 269.80.
At 02.44 pm company’s share price was at Rs 259.95, up Rs 16.20, or 6.65 percent on the BSE and it was at Rs 260.00 on the NSE.
HG Infra, a road construction company, was the lowest bidder (L-1) for the Hybrid Annuity Model (HAM) based project, the company said in a filing to the BSE on Thursday.
HG Infra works in the sectors of road construction, civil construction and other related infrastructure projects. It has an order book of Rs 6,272 crore as of September 30, 2019.
Currently, it is working on projects based in Rajasthan, Uttar Pradesh, Haryana, Uttarakhand, Maharashtra and Arunachal Pradesh.
(With input from agencies)