H.G. Infra Engineering rallied 6.86% to Rs 621.95 after the company announced that it has been declared as lowest bidder by National Highway Authority of India for a road project in Haryana.
The project involves construction of 6-lane Greenfield Karnal ring RD under best management practices (BMP) on Hybrid annuity mode (HAM).The company said its bid project cost is Rs 997.11 crore and construction period of the project is 730 days.
H.G. Infra Engineering is engaged in Engineering, Procurement and Construction (EPC), Maintenance of roads, bridges, flyovers and other infrastructure contract works.
The consolidated net profit rose 10% to Rs 81.93 crore on 1.3% rise in net sales to Rs 795.70 crore in Q2 FY23 over Q2 FY22.
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