Shares of HG Infra Ltd. are buzzing in trade on Wednesday, rising up to 15% on the back of a fresh order win in Uttar Pradesh. The stock is currently trading at Rs 634, accounting for gains of almost 15% compared to Monday's close of Rs 553.
This is a welcome upmove for an HG Infra stock that has corrected over 15% since the turn of the year. In the last 12 months, the shares have fallen more than 40%.
The rally on Wednesday comes after the order win in Uttar Pradesh from a certain Mirzapur Thermal Energy Limited for civil and p-way works. The company confirmed the order win worth Rs 519 crore in an exchange filing on Monday.
The stock touched a 52-week high of Rs 1,358 on Oct 27, 2025.
Photo Credit: PEXELS
As part of the project, HG Infra will take care of civil works such as bridges, earthworks and station buildings. The project is expected to be completed within the next 18 months, the company added.
This fresh order marks the second time HG Infra has bagged a key order in the last 30 days or so. In March, the company had secured an order worth Rs 401 crore Anuppur Thermal Energy plant in Madhya Pradesh for similar civil works for development of Railway Infrastructure of the power project.
Thanks to these fresh orders, HG Infra shares have risen almost 20% since the start of March, despite broad-based weakness in the market owing to the Iran War. The stock is currently trading with a relative strength index of 41, which suggests neutral market sentiment.
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