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.
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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.
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