Here's why HG Infra Engineering share is buzzing in trade today; details

HG Infra shares rise: Construction engineering company HG Infra Engineering shares rose as much as 6.86 per cent to hit an intraday high of Rs 1,363.70 per share on Monday, November 25, 2024. 

 

The HG Infra Engineering share price rallied after the company announced that it has secured a letter of award (LoA) from NTPC Vidyut Vyapar Nigam Limited. 

 

In an exchange filing, HG Infra Engineering, said, “We are pleased to inform you that H.G. Infra Engineering Limited (the “Company” or “HGINFRA”) has received the letter of award from the NTPC Vidyut Vyapar Nigam Limited.”

 

The company will be responsible for setting up of 500 mw/1000 mwh standalone battery energy storage systems in India, with viability gap funding support.

 

Meanwhile, the size of the order was 185 MW/370 MWh. The tariff rate is fixed at 2,38,000 per MW per month, the company said in a statement. 

 

The company will be required to complete the project in 1.5 years, HG Infra Engineering said.

 

Q1 financial performance

 

HG Infra’s revenue or topline grew 13 per cent annually to Rs 1,528 crore in Q1FY25, from Rs 1,351 crore in the same quarter a year ago (Q1FY24).

 

The company’s net profit jumped over 8 per cent Y-o-Y to Rs 162.6 crore in the June quarter of FY25, from Rs 150.4 crore in the same quarter last year (Q1FY24).

 

The market capitalisation of HG Infra Engineering is Rs 8,709.47 crore, according to BSE.The company falls under the SmallCap category.

 

The 52-week high of HG Infra Engineering share is Rs 1,880 while its 52-week low is Rs 806 apiece. 

 

At 9:34 AM, the HG Infra Engineering shares were trading 4.72 per cent higher at Rs 1,336.40. In comparison, the BSE Sensex was trading 1.61 per cent higher at 80,387.21 levels.