HG Infra Engineering Shares Gain On Rs 998-Crore Order Win From NHAI
Shares of HG Infra Engineering Ltd. gained the most since March 29 after winning a contract from the National Highways Authority of India.
The company has received a letter of award from NHAI for the construction of a six-lane greenfield Varanasi-Ranchi-Kolkata highway from Deoria to Donoreshan villages in Jharkhand at a project cost of Rs 998.36 crore.
Shares of the company rose 1.70% to Rs 796 apiece as of 11:35 a.m. on Monday, compared with a 0.22% decline in the benchmark Nifty 50. The relative strength index was 58.7.
Fifteen analysts following the company have a 'buy' rating on the stock, according to Bloomberg data. The consensus of analyst estimates places the return potential over the following 12 months at an upside of 21.3%.
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