Shares of HG Infra Engineering jumped nearly 2% on February 1 after the construction engineering company announced winning a Rs 447 crore order from the South Central Railway for doubling of track. 

HG Infra shares hit an intraday high of Rs 950, 1.89% higher than its previous closing price on the National Stock Exchange (NSE). The stock closed 0.93% higher at Rs 941. 

According to an exchange filing, South Central Railway declared HG Infra the lowest bidder (L-1) for a Rs 447.11 crore project under EPC (engineering, procurement and construction) mode.

The scope of the project entails the doubling of track spanning 44.14 km between Karanjgaon station (including) & Aurangabad station (including) and electrification and signalling works in connection with Aurangabad- Ankai doubling project in Nanded division of South Central Railway.

The estimated project cost of South Central Railway is Rs 439.59 crore, while the company’s bid project cost is Rs 447.11 crore. The construction of the project is to be executed in 30 months.

As of September 30, 2023, the company’s order book stood at Rs 10678.2 crore, of which 70% of the orders are from Government authorities, while the rest are received from private players.