Afcons, HG Infra shares jump up to 8% in response to ₹11,000 crore order wins

Shares of Afcons Infrastructure

and HG Infra Engineering gain up to 8% on Tuesday, May 12, after both companies announced major project wins.

Afcons Infrastructure said it has received a client communication confirming a proposed award for a ₹7,544 crore railway project in Croatia.

The company had earlier emerged as the lowest bidder (L1) for the reconstruction of the existing railway track and construction of a second track on the Dugo Selo-Novska rail line, along with electrification, signalling and telecommunication works.

The company informed exchanges that it has now received intimation from the client selecting Afcons as the most suitable bidder, along with a proposal to accept its bid for the rehabilitation and construction project in Croatia.

Meanwhile, HG Infra Engineering said it has received a Letter of Award (LoA) from Welspun Enterprises for a ₹3,931 crore highway project in Maharashtra. The order was awarded on May 11, 2026.

The project involves the construction of a six-lane, partially elevated highway corridor, along with the improvement of the existing road stretch between Pune and Shirur on NH-753F, covering a minimum design length of 53.4 km.

The execution period for the project is 36 months.

Afcons Infrastructure shares ended Monday's session 4.23% lower at ₹326.30, while HG Infra Engineering shares settled 0.53% higher at ₹630.