Shares of Highway Infrastructure Ltd rallied 10% to touch a day’s high of Rs 70.80 on 10th December. This occurred after the firm on Tuesday (9th December) said it had secured a Rs 328.78 crore contract from the National Highways Authority of India (NHAI) to operate and collect tolls at the Kaza Fee Plaza on the Chilakaluripet–Vijayawada stretch of National Highway 16 in Andhra Pradesh.

The Letter of Acceptance, issued on 9th December, covers toll operations on an 82.5-km stretch. This is between km 355 and km 437.5 on NH-16 in Andhra Pradesh.

This stretch is one of the busiest, connecting northern Andhra Pradesh with major industrial and port hubs further south.

The contract was awarded through a competitive e-tender process.

Highway Infrastructure will manage toll collection at Kaza Fee Plaza and maintain nearby facilities, including toilet blocks and consumables.

A domestic entity awarded the order. It is not a related-party transaction, and promoters have no stake in the awarding entity.

The contract period is one year. It covers a key section of NH-16, a vital freight corridor for agricultural goods, construction materials, and port-bound cargo.

At 12:47 PM, shares of Highway Infrastructure were trading 3.93% higher at Rs 64.58 on NSE.

Ready to invest like a pro? Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists and insightful market analysis and much more!