HG Infra stock surges 5% as firm secures Rs 716 crore Central Railway project

HG Infra has delivered close to 85 percent gains since the start of 2024.

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HG Infra Engineering shares zoomed 5 percent in opening trade on September 13, a day after the company bagged a Central Railway project in Maharashtra, worth Rs 716 crore.

The project involves the construction of a new broad gauge line between Dhule (Borvihir) and Nardana in Maharashtra, spanning approximately 49.45 km. The project, which will be executed under the engineering and procurement contract (EPC) mod, has a construction timeline of 30 months.

At 09.24 am, shares of HG Infra were trading at Rs 1,557.70 on the NSE. The stock has delivered close to 85 percent gains since the start of 2024.

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Earlier this week, the construction major won another project worth Rs 780 crore from the Ministry of Road Transport & Highways for the upgradation of NH-47.

The contract involves upgrading a 10.630 km section of National Highway 47 (NH-47) in Gujarat, specifically between the Narol and Sarkhej junctions. This project includes the construction of an elevated corridor and is being executed under the hybrid annuity model (HAM), with completion expected within a 2.5-year construction period.

HG Infra has been on a roll, consistently winning significant contracts. In August, the company emerged as the lowest bidder for another road upgrade project in Gujarat. The Ministry of Road Transport and Highways had set the project cost at Rs 883.24 crore, while HG Infra’s successful bid came in at Rs 781.11 crore.

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