HG Infra Engineering rises 4 per cent on receiving new orders

HG Infra Engineering Ltd informed that it has been declared as the lowest bidder by National Highways Authority of India (NHAI), New Delhi. 

The company has received the order for the construction of four-lane access-controlled New Greenfield Highway Section of NH-365BG (Khammam-Devarapalle). The highway is to be constituted between Thallampadu to Somavaran villages in Telangana under the inter-corridor route under Bharatmala Pariyojana. 

The total length of the highway to be constructed is 33.604 kilometres. The company entered into a hybrid annuity model (HAM) with NHAI. The company was declared as the lowest bidder at Rs 656.45 crore. The project is expected to get completed within 730 days.  

The shares of the company rose as much as 4 per cent during the early morning hours. The share price of the company slipped later on and closed in red at the close of the market on Wednesday, at a price of Rs 280.60 per piece on BSE, down by 1.25 per cent from its previous close.

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