Shares of HG Infra Engineering Ltd surged greater than 2% on 12 June after the corporate emerged because the lowest Bidder (L1) for a challenge in Odisha.
In its regulatory submitting, the corporate mentioned that they’ve been declared because the lowest bidder for the transmission service supplier to determine the interstate transmission system for the Japanese Area Era Scheme – I (ERGS-I) by a tariff-based aggressive bidding course of in Odisha.
PFC Consulting, a completely owned subsidiary of Energy Finance Company, awarded the contract to the corporate on a assemble, personal, function, and switch (BOOT) mannequin. The contract’s complete consideration is Rs 431.11 million in tariffs per 12 months, with a completion date of 28 March 2028.
In Could, the corporate received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam for 300 MW/600 MWh of a 500 MW/1000 MWh challenge to determine Standalone Battery Power Storage Methods in Gujarat by Tariff-Based mostly Aggressive Bidding (Part-VI).
The corporate recorded a 22.6% discount in its consolidated Q4FY25 revenue at Rs 147 crore in comparison with Rs 190 crore the earlier 12 months, whereas income fell 20.3% to Rs 1,360.9 crore versus Rs 1,708.3 crore YoY.
Nonetheless, at 12:30 pm, the shares of HG Infra had been buying and selling 0.12% decrease at Rs 1,102 on NSE.
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