The scrip hit the day’s high of Rs 269, its highest intraday level since 27 November 2019.
In a regulatory filing made after market hours yesterday, the construction engineering company informed that it has been declared lowest (L-1) bidder by the National Highways Authority of India (NHAI) for construction of proposed Rewari Bypass (NH-11) as feeder route in Rewari district in Haryana on hybrid annuity mode (HAM) amounting to Rs 522.02 crore. The project, which has a total length of 14.40 km, is to be completed in two years.
On a consolidated basis, net profit of H G Infra Engineering rose 60.31% to Rs 40.88 crore on a 11.62% increase in net sales to Rs 479.35 crore Q2 September 2019 over Q2 September 2018.
H.G. Infra Engineering is a leading player in the roads & highways space. The company provides engineering, procurement and construction (EPC) services on a fixed-sum turnkey basis and undertakes civil construction and related infrastructure projects in the road construction space.
Currently, the stock is trading 15.55% below its 52-week high of Rs 307 hit on 31 May 2019. It is 50.11% above its 52-week low of Rs 172.70 hit on 19 February 2019.