Ceigall India shares rise 4% following Rs 54.21 crore arbitration award

Founded in 2002, Ceigall India is an infrastructure construction company with expertise in specialised structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.

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26 Aug, 2025 12:21

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Shares of Ceigall India surged 4 percent after the company announced receiving an arbitration award worth Rs 54.21 crore in its favour in the Greater Mohali Area Development Authority (GMADA) case.

At 11:55 AM, shares of Ceigall India were up over 3 percent at Rs 370. Year-to-date, the stock declined over 4 percent, underperforming the Nifty 50, which gained 14 percent during the same period.

After posting negative monthly returns from September to November, the stock has gained 8 percent so far in December.

The award comes under the Arbitration and Conciliation Act, 1996. The dispute was related to the project titled "Construction of Service Road along with a 200' wide road from Mullanpur/UT boundary up to the 'T' Junction of Kurali-Siswan road at SAS Nagar."

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In its decision, the arbitral tribunal directed GMADA to pay Ceigall India Rs 54.21 crore along with 12 percent simple interest from the date of the award until payment is realised.

In an exchange filing, Ceigall India said, "There will be a positive impact on financial position of the company."

Founded in 2002, Ceigall India is an infrastructure construction company with expertise in specialised structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.

Shares of Ceigall India made a tepid debut on the stock exchanges on August 8, listing at Rs 419 apiece, a 4.5 percent premium over the issue price of Rs 401.

In Q2FY25, Ceigall India's consolidated net profit fell to Rs 67.3 crore from Rs 73.8 crore in the year-ago period. Meanwhile, its revenue from operations rose to Rs 772.2 crore from Rs 740.8 crore recorded a year ago.

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