Shares of Ceigall India Ltd rose more than 3% on 26 September after the company secured a road construction project for Rs 509 crore.

Ceigall India (CIL) and JSP Projects (JSPPPL) have won a Letter of Award from the Greater Mohali Area Development Authority (GMADA) for the building of an internal road in Pocket B, C, and D of Aerotropolis S.A.S Nagar (Civil, Public Health, and Electrical Works).

The entire cost of the job is Rs 509,20,80,359. The CIL part is 80%, and the JSPPPL portion is 20%. The contract is set to be executed in 24 months.

The company was the lowest bidder in a tariff-based competitive bidding process to develop a grid-connected ground-mounted solar photovoltaic (PV) project with battery energy storage systems (BESS) at Morena Solar Park in Madhya Pradesh.

The business has quoted a pricing of Rs 2.70/kWh for 220 MW of the Rewa Ultra Mega Solar project’s total capacity of 440 MW.

However, at 12:49 pm, the shares of Ceigall India shed all their early gains and were trading 1.31% lower at Rs 267.81 on NSE.

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