Shares of this micro-cap stock, BR Goyal Infrastructure Ltd, surged 3%, hitting an intraday high of Rs 115.55 on 3 April after the company announced securing an order from NHIT Eastern Projects Private Limited for improvement work on National Highway 44 (NH-44) worth Rs 11 crore.
BR Goyal Infrastructure Limited has received a work order from NHIT Eastern Projects Private Limited to improve the Lakhnadon-Khawasa Section of NH-44 in Madhya Pradesh. The project, which would cost Rs 10.90 crore, will be completed in six months.
Under this contract, improvements to the national highway will be carried out on an item-rate basis. The company sees this as a vital step in expanding its infrastructure development footprint while producing high-quality road projects.
The company works in several industries, including producing ready-mixed concrete (RMC), handling toll collection contracts in Haryana and Uttar Pradesh, and offering EPC services for infrastructure projects. It also constructs residential buildings in Indore and operates a 1.25 MW windmill in Jaisalmer, Rajasthan.
The company held its Initial Public issuing (IPO) from 10 January to 12 January 2025, issuing 30 lakh equity shares at a price of Rs 100 apiece in an attempt to raise Rs 30 crores. The money raised will be utilized to meet working capital requirements, increase the production of ready-mix concrete, and support existing civil construction projects.
However, at 2:37 pm, the shares of BR Goyal Infra shed all their early gains and were trading 0.13% lower at Rs 111.85 on NSE.
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