/images/ppid_59c68470-image-178350003067863823.webp)
/images/ppid_a911dc6a-image-178369803390753615.webp)
/images/ppid_a911dc6a-image-178369813988785994.webp)
What is the story about?
Ceigall India Ltd
has emerged as the lowest (L1) bidder for a ₹704.70 crore highway project from the Ministry of Road Transport and Highways (MoRTH), further strengthening its order pipeline amid an active execution phase across multiple road infrastructure projects.
The company informed exchanges that its joint venture with Sushee Infra & Mining Ltd, in which Ceigall holds a 74% stake and Sushee the remaining 26%, emerged as the L1 bidder after the financial bids were opened on July 8.
The project involves the construction of the Lada-Sarli section of National Highway-913 (Frontier Highway) in Arunachal Pradesh, covering the stretch from km 85.60 to km 168.00. The road will be developed to an intermediate lane configuration under the Engineering, Procurement and Construction (EPC) model.
The contract, awarded by the Ministry of Road Transport and Highways, is valued at ₹704.70 crore (excluding GST). The project carries a 48-month construction period, followed by a five-year maintenance period.
The latest order comes just a day after Ceigall announced that it had received the appointed dates for three highway projects worth a combined ₹4,050 crore, enabling construction to commence across road projects in Jharkhand and Madhya Pradesh.
Those projects include two packages of the Varanasi-Ranchi-Kolkata Greenfield Highway under the Bharatmala Pariyojana on the Hybrid Annuity Model (HAM), valued at ₹1,656 crore and ₹1,305 crore, respectively. The third project is the Indore-Ujjain Greenfield Highway in Madhya Pradesh, worth ₹1,089 crore.
Ceigall has also remained active on the bidding front. Last week, the company emerged as the L1 bidder for a ₹330.84 crore Delhi Public Works Department road-strengthening project, though the award remains subject to the completion of tender formalities.
Earlier in June, the company's special purpose vehicle, Ceigall Ambala Chandigarh Zirakpur Ltd, signed a concession agreement with the National Highways Authority of India (NHAI) for a highway project in Punjab. While the announcement initially lifted investor sentiment, the stock later surrendered those gains.
As of 1:45 pm, shares of Ceigall India Ltd had recovered from the day's low of ₹368.05, but were still trading 2.12% lower at ₹371 on the NSE.
The company informed exchanges that its joint venture with Sushee Infra & Mining Ltd, in which Ceigall holds a 74% stake and Sushee the remaining 26%, emerged as the L1 bidder after the financial bids were opened on July 8.
The project involves the construction of the Lada-Sarli section of National Highway-913 (Frontier Highway) in Arunachal Pradesh, covering the stretch from km 85.60 to km 168.00. The road will be developed to an intermediate lane configuration under the Engineering, Procurement and Construction (EPC) model.
The contract, awarded by the Ministry of Road Transport and Highways, is valued at ₹704.70 crore (excluding GST). The project carries a 48-month construction period, followed by a five-year maintenance period.
The latest order comes just a day after Ceigall announced that it had received the appointed dates for three highway projects worth a combined ₹4,050 crore, enabling construction to commence across road projects in Jharkhand and Madhya Pradesh.
Those projects include two packages of the Varanasi-Ranchi-Kolkata Greenfield Highway under the Bharatmala Pariyojana on the Hybrid Annuity Model (HAM), valued at ₹1,656 crore and ₹1,305 crore, respectively. The third project is the Indore-Ujjain Greenfield Highway in Madhya Pradesh, worth ₹1,089 crore.
Ceigall has also remained active on the bidding front. Last week, the company emerged as the L1 bidder for a ₹330.84 crore Delhi Public Works Department road-strengthening project, though the award remains subject to the completion of tender formalities.
Earlier in June, the company's special purpose vehicle, Ceigall Ambala Chandigarh Zirakpur Ltd, signed a concession agreement with the National Highways Authority of India (NHAI) for a highway project in Punjab. While the announcement initially lifted investor sentiment, the stock later surrendered those gains.
As of 1:45 pm, shares of Ceigall India Ltd had recovered from the day's low of ₹368.05, but were still trading 2.12% lower at ₹371 on the NSE.
/images/ppid_59c68470-image-178370252978496321.webp)
/images/ppid_59c68470-image-178370002952431751.webp)
