HG Infra jumps into fast lane

Yesterday, after market hours, HG Infra Engineering announced that it has been declared L-1 bidder by the National Highways Authority of India (NHAI) for the project "Construction of proposed Rewari Bypass (NH-1l) as Feeder Route in Rewari district in the state of Haryana.

This is on a Hybrid Annuity Mode.

NHAI bid project cost was at Rs.372 crore and HG Infra bid price is at Rs.522 crore.

The 14.40 kms bypass is to be completed in 2 years.

This news greatly buoyed the stock price and it rose almost 10.5% to Rs.269. Its 20% UC for today stands at Rs.292.50.