Shares of HG Infra Engineering surged by 5.12% on the BSE, reaching ₹1,644.15 per share during intraday trading on Monday. This significant uptick followed the recent acquisition by the company’s subsidiary, HG Green Energy. On September 13, 2024, HG Green Energy purchased a 49% stake in UVSE Project Group companies through equity shares.
Details of the acquisition
HG Green Energy's acquisition includes 11 different entities from UVSE Project, such as UVSE Project Three, UVSE Project Four, and UVSE Project Five. Each of these entities received an investment of approximately ₹49,000 from HG Green Energy. These entities will focus on the solar power sector, enhancing the company's portfolio in renewable energy.
Recent developments in HG Infra Engineering
HG Infra Engineering, known for its expertise in engineering, procurement, and construction (EPC) projects, including the maintenance of infrastructure like roads and bridges, has recently secured new work orders. Last week, the company received contracts from Central Railway and the Ministry of Road Transport & Highways (MoRTH) valued at ₹716 crore and ₹781 crore, respectively.
Stock performance and market trends
Over the past two weeks, HG Infra's stock has risen by 5.2%, outpacing the BSE Sensex, which has only seen a 0.37% increase. In the last six months, HG Infra's shares have skyrocketed by 81.8%, while the BSE Sensex has risen by 14%. Investors looking to buy shares online might find HG Infra Engineering's recent performance and market trends particularly appealing.
Financial performance in Q1FY25
In Q1FY25, HG Infra’s revenue increased by 13% year-over-year, reaching ₹1,528 crore, up from ₹1,351 crore in Q1FY24. The company's net profit also saw a notable rise of over 8% year-over-year, totalling ₹162.6 crores for the June quarter of FY25, compared to ₹150.4 crore in Q1FY24.
Stock metrics and current trading status
HG Infra's share price has a 52-week high of ₹1,880 and a 52-week low of ₹806. The company boasts a market capitalisation of ₹10,550 crore, and its shares are trading with a price-to-earnings ratio of 17.99, offering earnings per share of ₹86.95.
As of 12:23 PM, HG Infra’s shares were trading 3.51% higher at ₹1,618.90, while the BSE Sensex was slightly down by 0.05% at 82,846 levels. For those interested in buying shares online, these figures highlight HG Infra Engineering as a strong contender.
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