HG Infra Engineering Ltd witnessed a 4.84% increase in its share price, trading at ₹1,530.20 as of 9:21 am on NSE, following a key agreement announcement. The Jodhpur-based infrastructure company revealed that its wholly-owned subsidiary, HG Banaskantha Bess Private Ltd, has signed a Battery Energy Storage Purchase Agreement (BESPA) with NTPC Vidyut Vyapar Nigam Ltd.
Agreement Details:
The agreement entails the procurement of 185 MW/370 MWh of battery energy storage capacity on a long-term basis. This move aligns with the growing focus on renewable energy and battery storage solutions.
In a regulatory filing, the company stated,
“H.G. Banaskantha Bess Private Limited, a wholly-owned subsidiary of H.G. Infra Engineering Limited, entered into a Battery Energy Storage Purchase Agreement with NTPC Vidyut Vyapar Nigam Limited on December 23, 2024, for the procurement of 185 MW/370 MWh on a long-term basis.”
Recent Performance:
Despite the positive news, HG Infra Engineering reported a 16% YoY decline in net profit at ₹80.7 crore for the second quarter ending September 30, 2024, compared to ₹96.1 crore in the same quarter of the previous fiscal.
Recent Stock Performance:
- 1 Day: +4.84%
- 5 Days: +1.11%
- 1 Month: +19.54%
- 6 Months: -13.97%
- Year to Date: +78.90%
- 1 Year: +80.48%
- 5 Years: +537.33%
- All Time: +466.52%
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