India's HG Infra Engineering rises on contract wins

HG Infra Engineering

01/04/2024 08:21

** Shares of construction firm HG Infra Engineering
 HGIN.NS  up 6.4% at 966.70 rupees
    ** A consortium which includes the company won a contract
worth 2.2 bln rupees ($26.4 mln) from Jodhpur Vidyut Vitran
Nigam, it says
    ** Adds got engineering, procurement and construction
contracts worth a total 640 mln rupees ($7.7 mln)
    ** More than 318,000 shares traded as of 12:38 p.m. IST,
2.2x 30-day moving avg
    ** Avg recommendation on the stock is a 'strong buy,'
compared to 'buy' on bigger peer Ahluwalia Contracts (India)
 AHLU.NS ; their median PT is 1,170 rupees - LSEG data
    ** HGIN up 14.9% YTD, while AHLU is up ~33.4%

($1 = 83.3570 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))