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Construction and infrastructure engineering company HG Infra Engineering Ltd. ended 7 percent higher on Wednesday, after the company informed the bourses that it has been declared the L1 bidder by the National Highways Authority of India for a project worth Rs 997 crore.

The contract is for the construction of the six-Lane Greenfield-Karnal Ring Road.

The ring road would start from NH-44, near Shamgarh village and terminate at Karnal Munak Road (MDRI115), near Samalkha village, the company said in a filing to the stock exchanges. The project is part of the Bharatmala Pariyojana programme (BMP) and will be undertaken under the hybrid annuity model (HAM).

The total length of the project is 34.5 km and the project duration is 730 days. The NHAI had estimated the total cost of the project at Rs 743.74 crore.

The company had recently also received an appointed date letter from Adani Road Transport for a road project in Uttar Pradesh. The scope of the project includes the execution of civil and associated works on EPC basis for the Greenfield Ganga Expressway (Group-II) from Nagla Barah, Badaun to Ubariya Khurd, Hardoi. The price of the project was pegged at Rs 4,970.99 crore.

The company’s shares closed 7.81 percent higher at Rs 627.50. Wednesday's surge also ensured that the stock turned positive on a year-to-date basis.