Small-cap Stock HG Infra Sees 20% Surge Amid Market Volatility Following Order Win

HG Infra Engineering Posts 20% Gain on ₹400-Crore Order

HG Infra Engineering, a small-cap infrastructure development firm, saw its stock price surge 19.6% in Wednesday's trading session, driven by a new order from Anuppur Thermal Energy worth ₹401.33 crore (including GST).

The company informed the exchanges through a filing that it has received a contract to develop railway infrastructure at the thermal power project in Anuppur, Madhya Pradesh. The project involves the execution of civil and P-way works, and is scheduled to be completed within 18 months.

HG Infra Engineering has been actively expanding its operations in the infrastructure sector, having received a ₹1,827.33 crore contract from the National Highways Authority of India in February for the construction of a new six-lane road in Odisha.

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Financial Performance

The company reported a consolidated net profit of ₹94.28 crore in the third quarter of FY26, marking an 18.1% decline from ₹115.14 crore in the same period last year. However, revenue from operations increased 12.4% year-on-year (YoY) to ₹1,421.16 crore during the quarter.

Key Financial Highlights

• Consolidated net profit: ₹94.28 crore (Q3FY26)
• Revenue from operations: ₹1,421.16 crore (YoY increase of 12.4%)
• Earnings before interest, tax, depreciation, and amortisation (Ebitda): ₹308.78 crore (YoY increase of 7.6%)

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Share Price Trend

The small-cap stock has remained under pressure in the near term amid weak market sentiment, with a negative return of 23% in a month and 27.57% so far in 2026. The stock has shed 48% in a year and 32.16% in the last three years.