HG Infra Surges Over 3% as Company Bags Rs 716 Crore Railway Project
Shares of HG Infra Engineering Ltd jumped nearly 4% in early trade on Thursday after the construction firm was selected as the lowest bidder for a major railway project worth Rs 716.11 crore by the Central Railway.
As of 9:55 am, HG Infra was trading at Rs 919.50 on the BSE, reflecting a gain of 3.76%. The company will develop a new broad gauge railway line connecting Dhule (Borvihir) and Nardana in Maharashtra over a 30-month timeline.
The total cost of the project is estimated at Rs 716.11 crore. With this contract win, HG Infra continues to strengthen its construction order book. The company’s shares surged in morning trade as investors welcomed the new infrastructure project award.