India's HG Infra gains on 9 bln-rupee government contract win

Ashoka Buildcon

11/12/2024 03:57

** HG Infra Engineering  HGIN.NS  rises 4.6% to 1,520.8
rupees
    ** Construction and engineering co gets letter of award from
Ministry Of Road Transport And Highways to improve and upgrade a
national highway
    ** Bid worth 8.99 bln rupees (~$106 mln)
    ** Stock rated "strong buy" on avg; median PT is 1,779
rupees - LSEG
    ** HGIN up 75% YTD vs rival Ashoka Buildcon's  ABDL.NS 
two-fold surge and PNC Infratech's  PNCI.NS  12% fall

($1 = 84.8590 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com))