Ceigall India Shares Up 6%: ₹981 Crore NHAI Order Won
Infrastructure giant Ceigall India is making headlines today with its shares rising 6.18% on December 26, 2024. Why? This is because of a mammoth new order from NHAI worth a whopping ₹981 crore. Now let’s dig deeper and explore the details of the order. What does this huge news spell for the company as well as the investors?
Big win for Ceigall India: ₹981 crore NHAI project
It signed the National Highways Authority of India or NHAI on December 24, 2024, Ceigall Ludhiana Bathinda Greenfield Highway, which is the Indian arm of Ceigall India. The agreement signed is for the development of the 6-lane Ludhiana-Bathinda Greenfield Highway in Punjab.
This highway will form the Ludhiana-Ajmer Economic Corridor, a Bharatmala Pariyojna project-the flagship government initiative to resuscitate India’s roads and highways. This highway will connect NH-703, or Moga-Barnala Road, to NE-5, the Delhi-Katra Expressway, relieving bottlenecks in traveling across this region while boosting regional trade.
The Unique Features of This Project
This project is a part of the Hybrid Annuity Model (HAM). What is that? HAM basically means combining funding from the government and revenue generated by tolls, which will smoothen project financing and execution. It reduces the risks and will ensure that there is always cash flow coming in during construction and afterward for Ceigall India.
This is a project for connecting, reducing the travelling time and further growth of the state in Punjab. Good for the company and good for their communities too!
Ceigall India Stock Performance: A Sneak Peek
Ceigall India started trading in the stock exchange in August 2024, of course, that is a ride worth witnessing! Here is a peek briefly:
IPO Price: ₹401 per share.
BSE Listing: Opened at ₹413, up 2.99%.
NSE Listing: ₹419, up 4.48%.
Current Price: ₹365.80 as on Dec 26 having rallied 6.18%.
Shares in the company had staged a great comeback. Of course, this rally was just because of the announcement for the NHAI project only.
Why Stock Rally is a Big Deal
So, why did the stock of Ceigall India jump over 6%? The investors see it as an enormous opportunity as the project is worth ₹981 crore. It will be an increase in revenue along with a strengthening position in the infrastructure sector as one of the most trusted names.
The rally will surely be a good omen for those who have invested at the time of the IPO or during the early days when they purchased shares. This gives an indication that the company is moving in the right direction, winning big-ticket projects, and delivering its commitments.
What Does Ceigall India Do?
Established in 2002, Ceigall India has gained immense reputation in the infrastructure sector. It builds:
Highways and expressways
Bridges and flyovers
Tunnels and railway over-bridges
Runways for airports.
Its clients include major government entities like the Indian Railways, Military Engineer Services, and state road development corporations. With projects like the Ludhiana-Bathinda Highway, it is pretty clear that Ceigall India is a significant stakeholder in the infrastructure development of India.
This new project will illuminate the bright future of Ceigall India. The order worth ₹981 crore for this project will improve the company’s portfolio and open gates to more opportunities under schemes like Bharatmala Pariyojna.
The company’s growth will result in better returns for investors. For the infrastructure sector, it is another step forward in building a stronger and more connected India.
That it will have sufficient impact to steer the future course of the market, amply exemplified in the stock market rally recently. This is a ₹981-crore highway project that works good for India’s infra projects, and the mere fact that it speaks for itself is a win-ender. Ceigall India’s track record is satisfactory. The order book continues growing, and markets firmly keep believing that to continue building future and more.
Disclaimer: Stocks today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Next Story
Zomato Shares Rise Over 4% as Magicpin Gears Up for 2025 IPO
Shares of Zomato Jump as Magicpin Confirms 2025 IPO Plan Zomato’s stock has surged by more than 4% in two days after it was reported that Magicpin-the leading hyperlocal retail platform-is planning an IPO in 2025. For Magicpin, and especially for its stakeholders, including Zomato, which owns a 16.95% stake in shares, this would be a complete game-changer. What is Magicpin? Magicpin connects customers with local retailers across categories
Indo Farm Equipment IPO 2025: Key Highlights to Know Before Subscribing
Indo Farm Equipment IPO: Key Highlights to Know Before Subscribing Indo Farm Equipment, the well-known tractor and pick-and-carry crane manufacturer, is preparing to open its Initial Public Offering (IPO) on December 31. The IPO will be open for subscription until January 2. Indo Farm Equipment has been in the industry for more than two decades and has become a household name in agricultural and construction machinery. The company also
