Introduction:
Leading infrastructure firm incorporated a wholly owned subsidiary in Rajasthan. The new entity, focused on the battery energy storage system sector, has a capital of Rs.15,00,000 and will commence operations soon.
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Share price movement of H.G. Infra:
On December 4, 2024, H.G. Infra Engineering opened at ₹1,439.95, up 1.35% from its previous close of ₹1,420.70. The stock reached a high of ₹1,486.90 (4.66%) and a low of ₹1,426.70. By 10:27 AM, it traded at ₹1,476.40, a 3.92% increase, with a market cap of ₹9,621.86 crore.
H.G. Infra forms subsidiary:
H.G. Infra Engineering Limited has incorporated a wholly owned subsidiary, H.G. Banaskantha Bess Private Limited, on December 3, 2024. The new entity, registered in Rajasthan, will operate in the battery energy storage system sector.
The wholly owned subsidiary has an authorized capital of Rs. 15,00,000, divided into 1,50,000 equity shares of Rs. 10/- each. The company’s investment has been made at par value and at arm’s length, with no related party transactions involved.
This acquisition has no immediate impact on H.G. Infra Engineering Limited, as the subsidiary is yet to commence business operations. Regulatory approvals are not required, and the initial shares were acquired for a total subscription of Rs. 15,00,000.
Recent news on H.G. Infra:
As of November 27, 2024, H.G. Infra Engineering secured a Letter of Award for a 500 MW/1000 MWh battery energy storage project from NTPC Vidyut Vyapar Nigam Ltd. The project is valued at Rs 11 billion, with a 1.5-year timeline.
Stock performance of H.G. Infra for Period of 1 week, 6 months and 1 year:
H.G. Infra Engineering has delivered a strong 7.59% return over the past week, while showing a notable 67.5% return over the past year. However, its performance over the last six months has seen a decline of 6.76%.
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Shareholding pattern of H.G. Infra:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 71.80% | 74.50% | 74.50% |
| FII | 2.60% | 2% | 1.70% |
| DII | 13% | 12% | 12.50% |
| Public | 12.90% | 11.30% | 11.30% |
About H.G. Infra:
H.G. Infra Engineering Limited (NSE: HGINFRA) is a leading Indian infrastructure company specializing in Engineering, Procurement, and Construction (EPC) services, along with the maintenance of roads, bridges, flyovers, and other infrastructure projects.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
