In intraday trading on Thursday, shares of HG Infra Engineering climbed more than 5% following the company’s announcement that it was chosen as the lowest bidder (L-1) for a project by the Ministry of Road Transport and Highways (MORTH). The project, predicted by MORTH to cost ₹898.5 crore, witnessed HG Infra’s winning offer of ₹763.11 crore.
In an exchange filing, HG Infra stated, “We are pleased to inform you that HG Infra Engineering Limited (the Company or HG Infra) has been declared as L-1 bidder by the Ministry of Road Transport and Highways (MORTH) for a project.”
The stock reached an intraday high of ₹1,729.55, up as much as 5.4%. It is now just 8% behind its 52-week high of ₹1,880.00, which was achieved on July 16 of this month.
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