Shares of HG Infra Engineering rose 4.5% in early deals on Friday after the civil construction firm won a Central Railway project in Maharashtra, worth Rs 716 crore. The multibagger stock rose 4.5% to Rs 1570 against the previous close of Rs 1502.30 on BSE. Market cap of HG Infra rose to Rs 10,143 crore on BSE. The stock has gained 151% in two years and risen 85% in 2024. The multibagger stock has climbed 80% in six months.
Total 0.19 lakh shares of the firm changed hands amounting to a turnover of Rs 2.92 crore on BSE.
HG Infra shares have a beta of 1.4, indicating high volatility in a year.
The multibagger stock is trading higher than the 5 day, 10 day, 20 day, 30 day , 50 day, 100 day, 150 day and 200 day moving averages. It is overbought on charts, indicates RSI of 74.9
The project involves the construction of a new broad gauge line between Dhule (Borvihir) and Nardana in Maharashtra, spanning approximately 49.45 km. The project has a construction timeline of 30 months. It will be executed under the engineering and procurement contract (EPC) mode.
Earlier this week, the construction major won another project worth Rs 780 crore from the Ministry of Road Transport & Highways for the upgradation of NH-47.
The contract involved upgrading a 10.630 km section of National Highway 47 (NH-47) in Gujarat, specifically between the Narol and Sarkhej junctions. This project includes the construction of an elevated corridor and is being executed under the hybrid annuity model (HAM), with completion expected within a 2.5-year construction period.
HG Infra Engineering is engaged in engineering, procurement and construction (EPC) business including maintenance of roads, bridges, flyovers and other infrastructure contract works.