HG Infra extends gain after winning EPC project in Rajasthan

HG Infra Engineering (HGIEL) was trading 2% higher at Rs 302, extending its 10% rise in past two sessions on the BSE, after the company said it has been declared lowest bidder (L-1) for a new EPC project under Ministry of Road Transportation & Highway (MORTH) for upgradation to two lanes with paved shoulder configuration of the Kundal-Jhadol section of NH-58E in Rajasthan.
The completion period for the project is 18 months, it said.

The stock hit an intra-day high of Rs 311, its highest level since listing on March 9, 2018. A combined 338,041 equity shares changed hands on the counter on the BSE and NSE. On comparison, the S&P BSE Sensex was trading 0.35% lower at 33,061 at 11:42 am.

HGIEL is a road infrastructure construction company, mainly involved into the execution of EPC contracts. In the last five years, it has completed 13 projects in the roads & highways sector aggregating to a total contract value of Rs 16,749 million.
On financial performance front, HGIEL has demonstrated solid and impressive results over FY14-17.

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