Highway Infrastructure shares rose 2.75% to a high of Rs 49.00 on Oct 9 after signing a Rs 24.46 cr NHAI toll deal in Tamil Nadu.

The deal puts the company in charge of collecting user fees at the Velanchettiyur Fee Plaza in Tamil Nadu.

The plaza sits on the four-lane Karur-Dindigul stretch of National Highway 7. In plain terms, the firm will run the toll booths and handle what motorists pay on the way through.

There is a second part to the job. Highway Infrastructure will also maintain the toilet facilities beside the plaza and keep them stocked with consumables. The whole assignment runs for 90 days.

In its filing, the company said the agreement was signed on 8 October, following a Letter of Acceptance from the National Highways Authority of India (NHAI).

That letter is the formal go-ahead a client gives to the winning bidder. The deal is not a related-party transaction, and no promoter or promoter group has any interest in NHAI. Toll work has been busy for the company lately.

Before this, it bagged a Rs 220.66 crore contract for the Gorakhpur Link Expressway from the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), roughly nine times the size of the Tamil Nadu job.

In July, it picked up a Rs 28.69 crore NHAI toll contract too. Revenue for the April to June 2026 quarter came in at Rs 304.30 crore, more than double the figure from a year earlier.

At 10:56 am, shares were trading at Rs 48.44 on NSE, up by 1.57% from the previous close of Rs 47.69.

It has gained 6.48% over the past week and 10.86% over the past month, though it is still down 40.09% over the past year. The company has a market value of about Rs 344 crore.

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