52-week high alert and FIIs & DIIs increase stake: Heavy buying in this multibagger infrastructure stock with Rs 12,434 crore order book; Forays into renewable energy sector!
Shares of the company gained more than 90 per cent in the last six months.
Shares of H.G. Infra Engineering Limited gained more than 7 per cent on Tuesday, however, the stock closed gaining 3.90 per cent. The stock also made a new 52-week high On Tuesday. The stock has witnessed heavy buying activity from investors in the last few days. H.G. Infra capitalized on the growing solar power market by winning bids for projects under the KUSUM scheme. These EPC contracts, valued at Rs 1,307 crore, encompass developing 543 MW DC of solar power. The company is actively exploring further opportunities in solar energy, including rooftop installations. These wins solidify H.G. Infra's position as a leading EPC player in the infrastructure sector, now including renewable energy.
Recently, H.G. Infra Engineering Limited secured a contract from the Rail Land Development Authority (RLDA) for developing commercial property on railway land in Abu Road, Rajasthan. The 60-year lease project involves a plot of 8034.10 sqm, with a project cost of Rs 14.65 crore, exceeding RLDA's reserve price of Rs 14.41 crore. This Design, Build, Finance, Operate, and Transfer (DBFOT) project signifies H.G. Infra's expansion into commercial real estate development while leveraging its expertise in the construction sector. The project is expected to be completed within the 60-year lease term.
H.G. Infra Engineering Limited (HGIEL) is an Indian Road Infrastructure Company engaged in the business of Engineering, Procurement, and Construction (EPC) Services, Maintenance of roads, bridges, flyovers, and other infrastructure contract works. The company is majorly engaged in road construction activities through EPC Business with a selective focus on Hybrid Annuity Model (HAM) Projects. FIIs & DIIs have increased their stake in the company in March 2024. The company has an order book of Rs 12,434 crore. Shares of H.G. Infra Engineering Limited have also delivered multibagger returns of more than 250 per cent in a three-year holding period.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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