Ceigall India shares gain 6% on securing project from NHAI

The shares of Ceigall India Limited rallied 6.40% to trade at an intraday high of ₹366 as the company’s subsidiary, Ludhiana Bathinda Greenfield Highway, inked a Concession Agreement worth ₹981 crores with the National Highways Authority of India (NHAI).

The project entails the construction of a six-lane, access-controlled Ludhiana-Bathinda Greenfield highway segment of NH-754AD. It extends from the junction with Moga-Barnala Road (NH-703) near Tallewal village to the Delhi-Katra Expressway (NE-5) near Ballowal village, covering km 30+300 to km 75+543. This project forms a part of the Ludhiana-Ajmer Economic Corridor under Bharatmala Pariyojna Phase-I, Package-2.

The completion timeline for the project is 24 months and will be operated by the company post completion. 

Ceigall India Limited undertakes infrastructure construction projects like elevated roads, flyovers, bridges, tunnels, highways, expressways, and runways.

At close on Thursday, the shares of Ceigall India Limited showed 3.36% gains to trade at ₹355.55 as opposed to the previous close of ₹344 per share on the National Stock Exchange.

Summary:

Shares of Ceigall India Limited rose 6% as the company’s subsidiary signed a Concession Agreement worth ₹981 crores with the National Highways Authority of India (NHAI).