HG Infra Engineering’s stock surged 4.5% early Friday, reaching Rs 1570 after securing a Rs 716 crore railway project from Central Railway in Maharashtra. This rise in stock value marked a significant uptick from its previous close of Rs 1502.30 on BSE.
The company’s market capitalization increased to Rs 10,143 crore due to this surge. The civil construction firm’s stock has been performing exceptionally, gaining 151% over the past two years and 85% in 2024 alone, with an 80% increase in the last six months.
Approximately 0.19 lakh shares were traded recently, resulting in a turnover of Rs 2.92 crore on BSE. The stock, noted for its volatility, has a beta of 1.4, reflecting its significant fluctuation within the year.
Currently, HG Infra’s stock is performing well above its moving averages from the past 5, 10, 20, 30, 50, 100, 150, and 200 days. It is considered overbought with an RSI of 74.9, showing potential caution among investors.
The newly won project involves constructing a new broad gauge line between Dhule (Borvihir) and Nardana over 49.45 km in Maharashtra. The 30-month project, undertaken in EPC mode, strengthens the company’s robust project portfolio.
Additionally, earlier this week, HG Infra won a Rs 780 crore project from the Ministry of Road Transport & Highways to upgrade NH-47 in Gujarat, including a 10.630 km elevated corridor. This project is executed under the HAM model and is expected to be completed within 2.5 years.
