HF Infra Engineering Bags Rs 716 Cr Order; Shares Up 5%

The stocks of HG Infra Engineering surged 5 per cent in the Friday trading session after the firm secured a project worth Rs 716 crore in Maharashtra from the Central Railway.

HG Infra Engineering stock traded at Rs 1,568 with a 4.67 per cent gain in the afternoon session on the National Stock Exchange (NSE).

The project included building a new wide-gauge railway that will run roughly 49.45 kilometres between Dhule (Borvihir) and Nardana in Maharashtra. The project has a 30-month construction timeframe and will be carried out under the engineering and procurement contract (EPC) method.

The Ministry of Road Transport and Highways awarded the construction company another project earlier this week costing Rs 780 crore to upgrade NH-47.

The 10.630 km stretch of National Highway 47 (NH-47) in Gujarat between the Narol and Sarkhej junctions will be upgraded as part of the contract. This project is being carried out under the hybrid annuity model (HAM) and will entail the building of an elevated corridor. It is anticipated to be completed in 2.5 years.

HG Infra recently won frequent mega orders, the firm won the contract for a second road improvement project in Gujarat in August after submitting the lowest bid.

The successful proposal from HG Infra was for Rs 781.11 crore, but the Ministry of Road Transport and Highways had fixed the project cost at Rs 883.24 crore.