Shares of HG Infra Engineering rose 2 percent in the early trade on March 23 after the company was declared as the lowest bidder (L-1 bidder) by National Highways Authority of India (NHAI) for a project in Jharkhand.
The road project cost is Rs 764.01 crore with the construction period of 730 days, said HG Infra Engineering in a regulatory filing.
The project included construction of 6 lane greenfield Varanasi-Ranchi-Kolkata highway under Bharatmala Pariyojana in the state of Jharkhand on Hybrid Annuity Model (HAM) (Package 13).
Catch all the market action on our live blog
Earlier yesterday, the company has received the certificate of incorporation from the Registrar of Companies (RoC) with respect to incorporation of wholly owned subsidiary company namely "H.G. Kamal-Ringroad Private Limited" as special purpose vehicle to undertake construction of 6-Lane greenfield Kamal Ring Road and terminating at Kamal -Munak Road near Village Samalakha under Bharatmala Pariyojana in the state of Haryana on HAM.
On March 21, the company has been declared as L-I bidder by DYCE-C-CNB-ENGINEERING/North Central Railway for the project of redevelopment of Kanpur Central Railway Station at Kanpur on engineering, procurement and construction (EPC) mode in the state of Uttar Pradesh with a project cost of Rs 655 crore and construction period of 36 months.
At 09:22 am HG Infra Engineering Ltd. was quoting at Rs 784.70, up Rs 11.10, or 1.43 percent on the BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
