By Malvika Gurung
Investing.com — Shares of the construction engineering firm H.G. Infra Engineering (NS:) hit a fresh 52-week high of Rs 810.05/share on Thursday after the company was declared as the lowest bidder for a highway construction project worth Rs 998.36 crore by the National Highways Authority of India (NHAI).
The Rs 5,160 crore worth market capitalization company informed the bourses on March 16 that it has been picked as the L-1 bidder by NHAI for a Hybrid Annuity Mode to HAM project.
According to the said project details, H.G. Infra Engineering will be constructing a 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Deoria village to Donoreshan village.
The aforementioned construction project falls under the ambit of Bharatmala Pariyojana in Bihar on a Hybrid Annuity Mode, with a bid cost of Rs 1,303.11 crore. NHAI has estimated the cost of the project at Rs 998.36 crore.
The length of the said highway will be 35.6 km, and the construction period of the project is fixed as 730 days from the date of appointment.
As per SEBI’s regulations under ‘Prohibition of Insider Trading’, H.G. Infra Engineering has announced that its trading window for dealing in its securities will be closed for all designated persons and their immediate relatives with immediate effect till March 18, 2023.