Shares of HG Infra Engineering rose over 5% on Thursday after the civil construction firm said it has been declared as L-l bidder by the Ministry of Road Transport and Highways (MORTH) for a project worth Rs 763.11 crore. HG Infra Engineering shares climbed 5.38% to Rs 1729.55 against the previous close of Rs 1641.10 on BSE. Market cap of the firm rose to Rs 11,017 crore.
“The project relates to improvement and upgradation in two lane with paved shoulders configuration of newly declared NH227B Bahuvan Madar Majha to Jagarnathpur (Design Km 160.200 to Km 224.040) ‘84 Kosi Parikrama Marg’ in Uttar Pradesh on Hybrid Annuity Mode Package VI,” said HG Infra Engineering.
The order is to be executed in two years. HG Infra stock has risen 99.50 per cent since the beginning of this year and risen 79 per cent in one year. HG Infra shares have delivered multibagger returns of 196% and 252.47% in two and three years, respectively.
The infra stock touched its 52-week low of Rs 806 on December 27, 2023 and rose to a 52 week high of Rs 1880 on July 16, 2024. It has a one-year beta of 1.1, indicating very high volatility during the period.
In terms of technicals, the relative strength index (RSI) of the stock stands at 45.7, signaling it's trading neither in overbought nor in the oversold zone. HG Infra shares stand lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.
H.G Infra Engg is engaged in the business of Engineering, Procurement and Construction (EPC), Maintenance of roads, bridges, flyovers and other infrastructure contract works.