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Ceigall India's shares surged 4% on Tuesday, reaching a day high of Rs 336 on the NSE, following the company's acquisition of a Rs 704.7 crore contract to develop a section of the Frontier Highway in Arunachal Pradesh. The Ministry of Road Transport & Highways (MoRTH) issued Letters of Acceptance (LOA) for the construction of the Lada-Sarli section of NH913, valued at Rs 704.70 crore, excluding GST.
Ceigall India, which holds a 74% stake in the joint venture, will collaborate with Sushee Infra & Mining (SIML) to complete the 48-month project, followed by a five-year maintenance period. The venture, which includes the construction of km 85.60 to km 168.00 of the Lada-Sarli section of NH-913 to Intermediate Lane standard, will further bolster Ceigall India's portfolio of large-scale highway infrastructure projects in challenging terrains.
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- Ceigall India shares rise 4% after winning Rs 705 crore Arunachal Pradesh Frontier Highway project economictimes.indiatimes.com
