Ceigall India Ltd. shares advanced 2.9% to ₹323.35 on Wednesday, extending gains from new contract awards in India’s infrastructure and industrial sectors.
The engineering and construction company secured a ₹7.05 billion contract from the Indian road transport ministry to build roads in Arunachal Pradesh, according to a regulatory filing. The project adds to Ceigall’s portfolio of highway and expressway contracts, reinforcing its position in India’s transport infrastructure pipeline.
Separately, Ceigall received a ₹225 crore Letter of Award from the Himachal Pradesh State Industrial Development Corporation for the development of the Bulk Drug Park at Una. The 18-month contract covers Phase I scope including formation cutting, internal roads, storm water drains, a bridge, and perimeter fencing. The project aligns with India’s push to expand domestic pharmaceutical manufacturing capacity.
The stock’s advance follows a recent trading range between a 52-week low of ₹222.61 and a peak of ₹405.70. Indian equity benchmarks, including the Sensex and Nifty 50, traded in a narrow range with marginal moves, while U.S. markets provided modestly negative global cues.
Ceigall, which operates across highways, expressways, metro rail, solar energy, and industrial park development, continues to benefit from government-led infrastructure spending and industrial corridor initiatives.
