India's HG Infra gains on winning battery energy storage project

HG Infra Engineering

25/11/2024 06:38

** Shares of construction and engineering company HG Infra
Engineering  HGIN.NS  rises 4.9% to 1,342 rupees
** Co wins contract for project to set up 500 megawatts
(MW)/1000 megawatt hour (MWh) standalone battery energy storage
systems from NTPC Vidyut Vyapar Nigam
    ** Co to manage 185 MW/370 MWh of total capacity at tariff
rate of 238,000 rupees ($2,824.39) per MW per month
    ** More than 120,000 shares of HGIN traded, just over 30-day
avg of 110,000 shares
    ** Analysts' avg rating on stock is equivalent of "strong
buy," vs "buy" on peer KNR Constructions  KNRL.NS   - LSEG data
    ** The median PT on HGIN is 1,770 rupees
    ** Stock up 58% YTD vs 22% gain in KNRL
     
    ($1 = 84.2660 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)
((mailto:aleefjahan.cs@thomsonreuters.com))