Shares of H.G. Infra Engineering Ltd. jumped 4% in early trade after the company was declared the lowest bidder for a major defence infrastructure project. The contract pertains to the creation of an Integrated Material Handling Facility at the Naval Dockyard in Mumbai (ND MBI), awarded by the Military Engineer Services (MES). As of 9:15 AM, the shares were trading 3.10% higher at Rs 1,044.60.
The project is valued at ₹117.77 crore and is expected to be completed within a period of 30 months. This is a domestic, item-rate contract, adding another significant order to the company’s expanding project portfolio. The development strengthens H.G. Infra’s position in the defence infrastructure space, a segment where the government has been ramping up investments under its modernization and Make in India initiatives.
While the contract is not classified as a related party transaction and has no promoter group involvement, it is seen as a strategically important win that could open up further opportunities in defence-related civil works.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
