Shares of HG Infra Engineering touched a 52-week high of Rs 743 as shares rallied 8% on the BSE in heavy intraday trading on Friday. Over the past two sessions, shares have soared 13% after the civil construction company reported good numbers for the quarter ending December 2022 (Q3FY23). It surpassed the previous high of Rs 720 on January 20, 2022.

Shares of HG Infra were up 7% at Rs 736.30 at 12:31 pm, while the S&P BSE Sensex was down 0.32%. The average over-the-counter trading volume jumped more than fourfold today, with some 7.2 lakh shares changing hands on the NSE and BSE together.

The company and its jointly controlled businesses are principally engaged in the engineering, procurement and construction (EPC) business of roads, bridges, flyovers, infrastructure contracting and related activities. The stock has risen nearly 40% over the past three months, compared with a 0.01% decline for the Sensex.

For Q3FY23, HG Infra reported a 30% year-on-year rise in its consolidated profit after tax to Rs 1,309 crore. Operating income rose 23.7% to Rs 1,185 crore. Ebitda’s margin increased 80 basis points to 20.1% from 19.3% a year earlier.

The company has a strong order book valued at Rs 11,064 crore as of December 31, 2022.

In its FY22 annual report, the company recently witnessed a boost in infrastructure development to improve connectivity and increase the road network across the country. With continued high award activity and a rapid construction pace, the company sees excellent traction in future order inflows. The company has been focused on strengthening its foothold and enhancing its capabilities to capture opportunities arising in the industry.

The company has also embraced digital technology to monitor daily activities and improve efficiency. HG Infra said these steps would help the company use resources more efficiently, leading to margin expansion and a healthy financial position.