Ceigall India Gets LoI From Bihar Govt For Stone Blocks; Shares Rise 0.74%

Mumbai, September 30: Ceigall India has received a Letter of Intent from the Government of Bihar for the allotment and leasing of stone blocks in Nawada district, with the five-year project carrying a cumulative value of ₹214.52 crore, excluding GST and other taxes.

Ceigall India Receives Lol For Nawada Stone Mining Project

According to the regulatory filing, the Lol has been issued by the Bihar government’s Department of Mines and Geology following a competitive bidding process through an e-reverse auction.

The project covers Lot No. 4 at Bhadokhara in Block-D of Nawada district. The work involves mining of stone blocks under a quantity-based project structure.

The allotted block has a minable reserve of 4,19,300 cubic metres per year, while the filing also specifies a total minable reserve of 20,96,500 cubic metres over five years.

Stock Market Snapshot

The Ceigall India share price stood at ₹380.35 as of 12:33:38 PM IST on September 30, 2026.

The stock was up ₹2.80, or 0.74%, at the time. Shares moved through a range during the morning session before gaining momentum around noon and trading above ₹380.

The share price movement came as the company disclosed receipt of the Lol for the Nawada stone block project.

Project To Generate ₹214.52 Crore Over Five Years

Under the terms disclosed by Ceigall India, the project carries an annual value of ₹28.82 crore in the first year, with the amount increasing by 20% each year for the five-year period.

On a cumulative basis, the contract value is estimated at ₹214.52 crore, excluding GST and other applicable taxes.

The project is classified as a domestic engagement and was awarded by the Department of Mines and Geology, Government of Bihar. The company has also stated that the project does not involve a related-party transaction.

Conclusion

Ceigall India has received the Lol from the Bihar Department of Mines and Geology for the allotment and leasing of a stone block in Nawada district.

The five-year project has a cumulative value of ₹214.52 crore, excluding GST and other taxes, with annual project value set to increase by 20% under the disclosed terms. The Ceigall India share price stood at ₹380.35 as of 12:33:38 PM IST on September 30, 2026, up ₹2.80 or 0.74%.

Source:

• https://www.nseindia.com/get-quote/equity/CEIGALL/Ceigall-India-Limited
• https://nsearchives.nseindia.com/corporate/ceigall_30092026120556_Intimation.pdf