HG Infra share witnesses a strong rally of 7% on signing MoU with Ultra Vibrant Solar Energy

Tuesday’s trading saw HG Infra shares soar up to 6.65% and reach an intraday high of 1,799.05 per share on the BSE.

Following the company’s announcement that it had signed a Memorandum of Understanding (MoU) with Ultra Vibrant Solar Energy, the stock price increased.

In an exchange filing, HG Infra stated, “We wish to inform you that H.G. Infra Engineering Limited has entered into a Memorandum of Understanding dated July 08, 2024 with Ultra Vibrant Solar Energy Private Limited for acquiring shares or voting rights in the project companies by way of incorporating new companies or by taking shares of the existing company for the execution of the solar power plants project.”

Furthermore, HG Infra stated that it will make investments in the future to expand its company and set up solar power plants.

As of 2:11 pm, HG Infra shares were trading 1.54% higher at ₹1714.75.

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