Explained — Why HG Infra Engineering shares are down 16% on Friday

Shares of HG Infra Engineering Ltd. declined up to 16% on Friday, January 23 after the company said the CBI and ACB conducted search operations at its offices and project site.

HG Infra informed the stock exchanges on Thursday that the Central Bureau of Investigation (CBI) and Anti-Corruption Bureau (ACB), Patna conducted search operations on January 21, 2026 at the firm's corporate office in Jaipur, regional office in Gurugram and a project site in Bihar.

The search operations commenced at 6.10 PM and ended around 1 AM on January 22, 2026, it said.

It said the company's business operations continue as usual and are not impacted due to the search. It added that the financial impact is not quantifiable in monetary terms at the moment.

HG Infra said it fully co-operated with the officials during the proceedings and responded to the clarifications and details sought by them.

It said the details of the violations / contraventions committed or alleged to be committed cannot be ascertained at the moment.

HG Infra added that it will update the stock exchanges in case of any further development regarding the same.

Shares of HG Infra Engineering are down 16.6% on Friday at ₹552. The stock is down 59% from its 52-week high of ₹1,334.

Also Read: Macquarie upgrades Petronet LNG; HPCL top pick among OMCs