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HG Infra jumps 10% as NHAI declares firm as lowest bidder in Rewari project

The project completion period is two years.

December 27, 2019 / 10:04 AM IST
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HG Infra Engineering share price rose 9 percent in the early trade on December 27 after the company was declared lowest bidder by the National Highways Authority of India (NHAI).

The company has been declared L-1 bidder by the NHAI for the project construction of proposed Rewari Bypass (NH-11) as feeder route in Rewari district in the state of Haryana on Hybrid Annuity Mode for amounting to Rs 522.02 crore.

The project completion period is two years.

The trading window for dealing in the securities of the company by its designated employees, directors, connected persons and promoters shall remain closed till December 28, 2019.

"HG Infra is committed to build world class roads and highways to further the development agenda of the government," said Harendra Singh, Chairman and Managing Director at HG Infra.

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“While we will continue to strive for excellence in the sector not just for our growth, but for the nation’s growth as well. Winning of projects is a testimony of our rich experience, domain expertise and execution capabilities,” Singh said.

The company has an order book of Rs 6,272 crore as of September 30, 2019.

At 09:22 hrs HG Infra Engineering Ltd. was quoting at Rs 266.95, up Rs 23.20, or 9.52 percent on the BSE.

The share touched its 52-week high Rs 307.00 and 52-week low Rs 172.70 on 31 May, 2019 and 19 February, 2019, respectively.

Currently, it is trading 13.05 percent below its 52-week high and 54.57 percent above its 52-week low.
Moneycontrol News
first published: Dec 27, 2019 10:04 am

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