Share price of this infra stock jumped by nearly 5.42% on BSE to Rs. 941.95 in the morning trading session of March 19th, from its previous close of Rs. 893.45, after the company announced receiving Letters of Award for four projects of Solar Business.
With a market capitalisation of Rs. 5,966 crores, at 01:01 p.m., the shares of the company were trading in the green at Rs. 914.05, up by nearly 2.27%.
In the last one year, HG Infra Engineering Limited has delivered about 17.9 percent of positive returns and nearly 7.6 percent of returns, so far in 2024. However, it has given around 4.8 percent of negative returns in the last six months.
According to recent regulatory filings with the stock exchanges, Jodhpur Vidyut Vitran Nigam Limited has awarded letters of award to the joint venture (JV) consortium of H.G. Infra Engineering Limited and Stockwell Solar Services Private Limited for four Solar Business projects.
The company has received the orders for the design, survey, supply, installation, testing, commissioning, operation and maintenance of grid-connected solar power plant(s) via RESCO mode for a period of 25 years from the Commercial Operation Date (COD).
The work consists of Engineering, Procurement and Construction (EPC) as well as the commissioning of Solar Power Plant within a given time period of 12 months.
The project will be implemented by a separate entity(ies) incorporated/to be incorporated by Stockwell Solar Services Pvt. Ltd. and H.G. Infra Engineering Limited directly or through its subsidiaries.
In terms of financials, the company’s revenue from operations grew by 42.93 percent QoQ from Rs. 955 crore in Q2 FY23-24 to Rs. 1,365 crore in Q3 FY23-24, accompanied by an increase in net profit of 6.25 percent from Rs. 96 crore in Q2 FY23-24 to Rs. 102 crore in Q3 FY23-24.
As of December 2023, FIIs hold 1.56 percent of the shares, whereas DIIs hold 12.45 percent of the shares in the company, aggregating to 14.01 percent of the institutional holdings.
With more than 21 years of expertise in roads and highways, H.G. Infra Engineering Limited is a leading infrastructure development company.
Established in 2003, the company provides engineering, procurement and construction (EPC) services on a turnkey basis and HAM (Hybrid Annuity Model), focusing on civil construction and related infrastructure projects. .
Written by Shivani Singh
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