Ceigall India drops after highways authority cancels JV's $123 million contract

Ceigall India

27/02/2025 05:58

** Shares of infrastructure construction co Ceigall India CEIG.NS down 2.9% to 260.5 rupees

** Co says National Highways Authority of India (NHAI) cancels highway project contract worth 10.71 billion rupees ($122.89 million) with co's JV

** NHAI to pay damages equivalent to 1% of contract price

** Stock down 37.9% since listing in August 2024

($1 = 87.1500 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)

 ((aleefjahan.cs@thomsonreuters.com))