Ceigall India shares jumped by over 5% on Wednesday morning after the company emerged as the lowest bidder for Hybrid Annuity Model (HAM) projects worth ₹2,499 crore.
The projects involve the construction of a 4/6 lane Northern Ayodhya Bypass, with a total length of 35.40 km, under the National Highways Development Project (NHDP) Phase 7 in Uttar Pradesh.
The project is divided into two parts, with Ceigall India submitting a bid of ₹1,199.30 crore for its completion. As of 9:21 am, the company’s stock was trading 5.47% higher at ₹397.85.
This significant development has boosted market confidence in the company, reflected in the positive movement of its stock.
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Ceigall India