Shares of HG Infra Engineering gained more than 6% during the early trading session on Friday after the company announced winning a Rs 716 crore project by the Central Railway.

HG Infra Engineering’s shares hit an intraday high of Rs 943.00, up 6.5% from its last closing price on the National Stock Exchange. At 11:50 am, the stock was trading 3.66% higher at Rs 917.65.

The infrastructure company announced in an exchange filing that it has been declared as the lowest bidder by Central Railway for a project worth Rs 716.11 crore. The project is for a new broad gauge line between Dhule (Borvihir) and Nardana in Maharashtra and is expected to be constructed in 30 months.

As of Q2FY24, HG Infra’s order book stood at about Rs 10,600 crore, the company is expecting inflows worth Rs 8000-9000 crore in FY24. 

Earlier in December, the company received a letter of award for a Rs 36.20 crore project from NTPC for transporting pond ash from NTPC Ramagundam to NHAI road construction projects. The project is for one year and can be extended by another six months.