The contract involves constructing a new broad gauge line between Dhule (Borvihir) and Nardana in Maharashtra, covering approximately 49.45 km. The project, to be executed under the engineering, procurement, and construction (EPC) model, has a timeline of 30 months.
At 11:16 am, the stock was trading 4.2% higher at Rs 1,565 on BSE. The stock has also surged 85% year-to-date, and over 150% in the past two years.
Earlier in August, HG Infra was awarded the lowest bid (L-1) by the Ministry of Road Transport and Highways (MoRTH) for a Rs 781.11 crore project to upgrade a 6-lane road, including an elevated corridor from Narol Junction to Sarkhej Junction on NH 47 in Gujarat under Hybrid Annuity Model (HAM).
In July, the company also won a project from the Ministry of Road Transport & Highways (MoRTH) with an estimated cost of Rs 898.5 crore, securing the contract with a bid of Rs 763.11 crore.
Also Read: Bajaj Housing share allotment likely today: Check statusAs per Trendlyne data, the average target price of the stock is Rs 1,691, which shows an upside of 8% from the current market prices. The consensus recommendation from 13 analysts for the stock is a ‘Strong Buy’.In terms of technicals, the relative strength index (RSI) of the firm stands at 43.5, signaling it’s neither trading in the overbought nor in the oversold territory. HG Infra is currently trading higher than its 10-day, 20-day, 30-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).
HG Infra Engineering is involved in the engineering, procurement, and construction (EPC) business, including the maintenance of roads, bridges, flyovers, and other infrastructure contract works.
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