Ceigall India Ltd. shares advanced 2.9% to ₹323.35 on Wednesday, extending gains after the company secured two new infrastructure contracts worth a combined ₹7.28 billion.
The Mumbai-based engineering and construction firm won a ₹7.05 billion ($73.65 million) contract from India’s road transport ministry to build roads in Arunachal Pradesh. The project forms part of the government’s broader push to improve connectivity in the northeastern state. Separately, Ceigall received a Letter of Award for a ₹225 crore bulk drug park development in Una, Himachal Pradesh, through the state’s industrial development corporation.
The Una contract, valued at ₹225 crore, covers an 18-month execution window and includes formation cutting, internal roads, stormwater drains, a bridge, and fencing as part of Phase I. The award follows the company’s strategy to diversify beyond highways and expressways into metro rail, solar energy, and industrial park development.
Ceigall’s shares have gained roughly 45% from their 52-week low of ₹222.61 but remain 20% below the 52-week high of ₹405.70. The stock’s movement contrasts with the broader Indian equity benchmarks, which have traded in a narrow range. The Sensex and Nifty 50 have posted marginal moves, while U.S. markets showed modestly negative global cues, though domestic infrastructure names have remained resilient amid policy-driven order flows.
