HEC Infra Projects zooms 5% on Rs 36.65-crore Gujarat Energy Transmission Corp order

HEC Infra Projects shares rallied 5 percent in early trade on September 4 after the company received a work order from Gujarat Energy Transmission Corporation (GETCO).

The company has received the GETCO work order for a Rs 36.65-crore job of laying, erecting, testing and commissioning of 66 KV 1C, 300 mm2 and 1C, 630mm2 XLPE cable for PolyAI and AI. The order has a deadline of 24 months from the date of the LoA.

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In August, the company had received a work order from Haryana Vidyut Prasaran Nigam, aggregating to Rs 37 crore for supply, erection, civil, testing and commissioning of equipment for construction of 132 kV and 66 kV composite transmission line in Faridabad, Rohtak and Sirsa to be executed within 15 months and 9 months, respectively.

The company posted a 64 percent jump in its net profit at Rs 19.85 lakh in the quarter ended June 2023.

At 9:41am, the HEC Infra Projects stock was quoting Rs 46.90, up Rs 2.20, or 4.92 percent, on the NSE.

The share touched a 52-week high of Rs 63.40 and a 52-week low of Rs 26.65 on January 3, 2023 and December 28, 2022, respectively. It is trading 26.03 percent below its 52-week high and 75.98 percent above its 52-week low.