Shares of HG Infra Engineering surged over 16% in Wednesday’s session, emerging as a top gainer on the NSE after the company announced a fresh order win worth Rs 519.33 crore. The stock was trading at Rs 642.50, up Rs 88.90, reflecting strong investor reaction to the infrastructure contract.
The rally comes after the company secured an order from Mirzapur Thermal Energy for the execution of civil and railway infrastructure works at its 2×800 MW thermal power project in Mirzapur, Uttar Pradesh. The order is seen as a meaningful addition to HG Infra’s order book, particularly in the railway infrastructure segment where execution visibility remains strong.
The scope of the project includes comprehensive civil construction work such as earthwork, bridges, and station buildings, along with permanent way works for railway infrastructure development. The contract has been awarded on an item rate basis and is scheduled to be completed within 18 months, providing near to medium term revenue visibility.
Importantly, the company clarified that the order has been awarded by a domestic entity and does not fall under related party transactions. The promoter and promoter group do not have any interest in the awarding entity, ensuring governance transparency.
From a stock perspective, HG Infra traded in the range of Rs 600.25 to Rs 648.15 during the session, significantly higher than its previous close of Rs 553.60. The company currently has a market capitalisation of around Rs 4,206 crore, with a price to earnings ratio of 10.71, indicating relatively moderate valuation levels compared to sector peers.
The order win comes at a time when infrastructure and power-linked railway connectivity projects are gaining traction in India, supported by government spending. While global macro uncertainty persists due to ongoing geopolitical tensions and elevated crude prices, domestic infrastructure companies continue to benefit from strong execution pipelines and order inflows.
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