Shares of HG Infra Engineering Ltd. rose nearly 5% on Tuesday after it secured four orders worth total Rs 1,026 from Jodhpur Vidyut Vitran Nigam.
The company has won the orders in a joint venture with Stockwell Solar Services Ltd., according to an exchange filing.
Shares of the company rose as much as 4.95% to Rs 938.00 apiece, the highest level since March 11. It was trading 2.67% higher at Rs 917.60 apiece as of 9:40 a.m. This compares to a 0.34% decline in the NSE Nifty 50 Index.
The stock has risen 17.4% in past 12 months. Total traded volume so far in the day stood at 14 times its 30-day average. The relative strength index was at 52.89.
Out of 14 analysts tracking the company, 13 maintain a 'buy' rating, one recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 14.22%.
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