HG Infra jumps 5% as JV with Kalpataru Projects Int secures ₹1,415 cr order

H.G. Infra Engineering shares jumped 5.4 per cent on the BSE, logging an intra-day high at ₹911 per share. At 9:19 AM, H.G. Infra Engineering’s share price was trading 5.22 per cent higher at ₹909 per share on BSE. In comparison, the BSE Sensex was up 0.16 per cent at 85,370.55.

Why did H.G. Infra shares rise in trade? 

The buying on the counter came after the company, jointly with Kalpataru Projects International, was declared as an L-1 bidder by the Maharashtra Metro Rail Corporation for a metro viaduct. 

 

“We wish to inform you that HG Infra Engineering Limited (the company or HGINFRA), jointly with Kalpataru Projects International Limited, has been declared as L-1 bidder by the Maharashtra Metro Rail Corporation Limited in a Joint Venture bidding,” the filing read. 

 

Under the contract, the JV between HG Infra and Kalpataru Projects International will design and construct an elevated metro viaduct of length 20.527 km between UG Ramp and Balkum Naka, including depot approach viaduct and three special spans for the Thane Integral Ring Metro Project.  ALSO READ | Sical Logistics shares up 3% on Southern Railway nod for Gati Shakti terminal 

A metro viaduct is a type of bridge, typically consisting of a series of uniform spans supported by columns, designed to carry a metro line over land, obstacles like rivers or other roads, or low-lying terrain. In the context of the Thane Integral Ring Metro Project, the term refers to the elevated structure for the metro line, a recent project award for which involves designing and constructing a 20.527 km viaduct between the underground ramp and Balkum Naka. 

 

HG Infra has a 40 per cent share, and Kalpataru Projects International Limited has a 60 per cent share in the JV for the project. The project is valued at ₹1,415 crore and has to be completed within 36 months. 

 

HG Infra Engineering is an infrastructure development company. The company has expertise in providing EPC services on a turnkey basis and executing projects under the Hybrid Annuity Model (HAM), excelling in civil construction and related infrastructure projects. HG Infra has also diversified into railways, metro, solar power, and water projects.