Announcement of formation of 6 solar companies, rush to buy these shares, prices rocketed

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HG Infra Engineering shares: Shares of HG Infra Engineering rose as much as 9 percent to Rs. The intraday high of 1867 per share was reached. Behind this jump in the company’s stock is a big news. In fact, the company has built 6 new solar energy units. These 6 new units are-

1. H.G. Kapuria Solar Project Private Limited

2. H.G. JETPUR SOLAR PROJECT PRIVATE LIMITED

3. H.G. Bhada Solar Project Private Limited

4. H.G. Surana Solar Project Private Limited

5. H.G. Pilwa Solar Project Private Limited

6. H.G. Jakhan Solar Project Private Limited

This share will cross ₹1900, it is a loot to buy, the IPO came only last month

What did the company say?

The company further said that each unit share capital subscription of Rs. 51,000 holds. It is subscribed by HG Infra Engineering. Each of those Rs. Divided into 5,100 equity shares of 10 each. Further, HG Solar Projects Pvt Ltd has invested Rs. 49000 subscribed share capital. Each of those Rs. Divided into 4,900 equity shares of 10 each.

Investors jump on shares at ₹44, loot to buy, company gets ₹117 crore order

Company business

HG Infra Engineering is active in Engineering, Procurement and Construction (EPC) business, including maintenance of contract works of roads, bridges, flyovers and other infrastructure. The firm in its fourth quarter posted Rs. 190 crore in revenue, registering a growth of 11.2 percent, compared to last year’s Rs. 170.9 crores. The income is also annually Rs. 1,535.4 crore up 11.3 percent to Rs. 1,708.2 crores. Additionally, Earnings Before Interest, Taxes, Depreciation and Amortization (Ebitda) stood at Rs. 332.6 crore, which was Rs. 296.8 crore which is 12.1 percent higher than Rs. Margin stood at 19.5 percent compared to 19.3 percent year-on-year.

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