This infra stock surged up to 6% in Tuesday’s trading session after it received an order worth Rs. 997 crore. The stock saw a strong momentum in the market today.
Share price of HG Infra opened at Rs. 945.80 per piece and traded nearly 6% higher to reach its intra- day of Rs. 991.50 apiece. The stock gained 51.2% in the last one year and 374.8% in the last three years.
On 5 September 2023, the company’s subsidiary H.G. Karnal-Ringroad Private Limited received an order for Construction of 6-Lane Greenfield Karnal Ring Road starting from NH-44 near Village 2023 Shamgarh and terminating at Karnal -Munak Road near Village Samalakha under Bharatmala Pariyojana in the state of Haryana on Hybrid Annuity Mode (HAM) from National Highways Authority of India (NHAI) worth Rs. 997.11 crore. The project is expected to be completed within 730 days.
The company holds a market capitalization of Rs. 6135.21 crore. Comparing its financials on a QoQ basis, the company made a revenue of Rs. 1535.43 crore in Q4FY23 which fell by 12% to Rs. 1351.16 crore in Q1FY24. Its net profit fell by 12% to Rs. 150.38 crore in Q1FY24 from Rs. 170.93 crore in Q4FY23.
HG Infra Engineering is a construction company which takes up big infrastructure projects such as roads, highways and bridges. It also facilitates in grading and extension of land development, runaways and railways. The company was incorporated in 2003 and has diversified into water pipeline business as well.
Written by Bhumika Khandelwal
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