HG Infra Engineering Ltd. witnessed a sharp rally in its stock price today, with shares climbing 14% following the announcement that the company has received a completion certificate for a major road infrastructure project in Delhi. This development propelled the civil construction firm's stock to Rs 512.60 on the BSE, up from its previous close of Rs 450.20, pushing its market capitalization to Rs 3298 crore.
The completed project, valued at Rs 1393.11 crore, involves the development of a 6-lane Urban Extension Road (UER)-II, specifically Package 1 (from NH 1 to Karala-Kanjhawala Road, Km (-) 0+700 to 15+000) under the NH-344 M designation. The work, executed on an Engineering, Procurement, and Construction (EPC) mode, was finished as per its scheduled timeline, contributing to the positive investor sentiment.
Trading activity for HG Infra was robust, with 2.63 lakh shares changing hands on the BSE, amounting to a turnover of Rs 13.20 crore. The stock's beta value stands at 1.46, indicating a relatively high volatility compared to the broader market over the past year. Analysts noted the stock is currently trading above its 5-day, 10-day, 20-day, and 30-day moving averages, though below its 50-day, 100-day, 150-day, and 200-day averages. Its Relative Strength Index (RSI) of 30 suggests it is neither overbought nor oversold.
HG Infra Engineering specializes in a wide range of infrastructure contract works, including engineering, procurement, and construction (EPC) projects, as well as the maintenance of roads, bridges, and flyovers. The successful completion of such significant projects reinforces its position in the Indian infrastructure sector.