HG Infra Bags Rs 781 Crore Project In Gujarat

HG Infra Engineering Ltd. announced on Monday that it has been awarded a road project valued at Rs 781 crore by the Ministry of Road Transport and Highways.

The project involves upgrading an existing six-lane road, including an elevated corridor from Narol Junction to Sarkhej Junction in Gujarat on the National Highway 47, according to an exchange filing.

The road project spans a length of 10.530 km and is scheduled for completion in 2.5 years. It will be executed under the hybrid annuity mode.

Earlier, on Aug. 20, three promoters of HG Infra Engineering sold 2.74% stake in the company for Rs 281.36 crore through open market transactions.

Shares of HG Infra Engineering closed 2.37% lower at Rs 1,456.95 per share, compared to a 0.46% advance in the BSE Sensex.