India's HG Infra Engineering rises on bagging new project

Ashoka Buildcon

02/12/2024 06:51

** HG Infra Engineering  HGIN.NS  adds 2% to 1,357.50 rupees
    ** Co gets project from Gujarat Urja Vikas Nigam to set up
250MW/500 MWH battery energy storage system in the western state
    ** HGIN did not disclose any financial details
    ** Stock rated "strong buy" on avg vs peers PNC Infratech
 PNCI.NS  and Ashoka Buildcon's  ABDL.NS  "buy" rating - LSEG
    ** HGIN's median PT is 1,779 rupees
    ** YTD, stock up ~60% vs ABDL's ~83% gain; PNCI down 17%

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))