On March 23, HG Infra Engineering shares rose 2% in the early trade after the company was acknowledged as the lowest bidder (L-1) by the National Highways Authority of India (NHAI) for a Jharkhand project.

The road project cost is Rs 764.01 crore, in which the construction period is 730 days, HG Infra Engineering stated in a regulatory filing.

The project comprises the construction of a six-lane Greenfield Varanasi-Ranchi-Kolkata highway under the Bharatmala Pariyojana initiative in Jharkhand on the Hybrid Annuity Model (HAM) (Package 13).

Earlier on March 22, HG Infra Engineering received the certificate of incorporation from the Registrar of Companies (RoC) concerning the incorporation of a wholly owned subsidiary company named “H.G. Kamal-Ringroad Private Limited”. It marks the special drive vehicle to commence construction of the 6-Lane Greenfield Kamal Ring Road and ending at Kamal-Munak Road near Village Samalakha under the Bharatmala Pariyojana initiative in the Haryana state on Hybrid Annuity Model.

On March 21, the company was acknowledged as an L-I bidder by DYCE-C-CNB-ENGINEERING/North Central Railway for the assignment of the redevelopment of Kanpur Central Railway Station at Kanpur in Uttar Pradesh. The project will undertake on the Engineering, Procurement, and Construction (EPC) model, which costs around Rs 655 crore, along with a construction period of 36 months.

At 9:22 am, HG Infra Engineering Limited shares quoted Rs 784.70, up Rs 11.10, or 1.43%, on the Bombay Stock Exchange.