This road-infra player decisively broke out of resistance zone!This road-infra player decisively broke out of the resistance zone!
NSE:HGINFRA
HG Infra is an infrastructure construction, development, and management company that is dedicated to developing road projects, including highways, bridges, and flyovers. With 92% of its order book coming from the Government sector and 8% from the private sector, HG Infra is majorly engaged in road construction activities through EPC Business with a focus on Hybrid Annuity Model (HAM) Projects. The company is also pre-qualified to independently bid for large EPC Projects and HAM Projects, making it a front-runner in the sector. The company is also expected to benefit from the big infra push from the Indian government!
Company posted a 49% increase in sequential quarterly revenue for Dec-22 quarter. Margins are improving since last 3 quarters. This is contributing positively to the earnings suggesting good times ahead. Current share price is less than the intrinsic value of the company showing undervaluation.
Price formed a new 52 week high after one month consolidation around the previous 52 week high zone with heavy volumes. Relative strength to the benchmark is also high and in an uptrend.
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