India's H.G. Infra falls after dropping two projects from order book

HG Infra Engineering

21/05/2026 06:20

** Shares of H.G. Infra Engineering HGIN.NS fall 2% to 582.4 rupees

** Highways developer says Maharashtra State Road Development Corporation has returned bank guarantees submitted against two projects without providing a reason; removes projects from its order book

** ICICI Direct Research says with the removal of these projects and a lower order book, co's 10-12% YoY target for revenue growth looks "difficult"

** Stock rated as "Buy" on average by 12 analysts; median PT at 1,063 rupees - data compiled by LSEG

** YTD, stock down 23.1%

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))