Ceigall India JV Emerges L1 Bidder For ₹521 Crore MoRTH Highway Project; Shares Edge Up 0.07%

Mumbai, March 11: Ceigall India Limited informed exchanges on Wednesday that the company, through a joint venture with Sushee Infra & Mining Limited, has emerged as the lowest (L1) bidder for a road construction project awarded by the Ministry of Road Transport and Highways. The company’s shares closed marginally higher by 0.07% at ₹278.35 on March 11, according to exchange data.

The company disclosed the development in a regulatory filing submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ceigall India Limited holds a 74% stake in the joint venture while Sushee Infra & Mining Limited holds the remaining 26%. The financial bid opening for Tender ID 2025_MoRTH_868241_1 took place on March 11, 2026.

According to the filing, the project involves construction of a road stretch from kilometre 0.000 to kilometre 78.38 of the Sarli–Huri section of National Highway 913 (Frontier Highway). The project will be executed under the Engineering, Procurement and Construction (EPC) mode in the state of Arunachal Pradesh.

The contract has a scheduled execution period of 36 months.

The awarding authority is the Ministry of Road Transport and Highways. The order is categorised as a domestic contract and does not involve any related party transaction, the company stated in the disclosure.

Share Price Movement On March 11, 2026

Ceigall India share price ended the trading session on March 11, 2026 at ₹278.35, marking a marginal gain of 0.07% compared with the previous close of ₹278.15, according to market data.

During the session the stock opened at ₹275.00 and touched an intraday high of ₹289.80 before easing toward the close. The day’s low stood at ₹274.30.

The company’s market capitalisation stood near ₹4,860 crore based on the closing price.

Order inflow announcements in the EPC road construction segment typically draw investor attention because project visibility and execution timelines can influence revenue recognition over subsequent financial years.

Company Background

Ceigall India Limited operates as an infrastructure engineering and construction company with a focus on road and highway projects. Its portfolio includes engineering, procurement and construction contracts as well as hybrid annuity model road projects across India.

The company primarily undertakes highway construction, elevated corridors, bridges, flyovers and related infrastructure development. Government agencies such as the National Highways Authority of India and the Ministry of Road Transport and Highways constitute key project awarding authorities.

Infrastructure contractors often participate in tenders individually or through joint venture structures in order to combine technical qualifications, financial capacity and project execution capabilities.

Conclusion

The company’s latest disclosure confirms that its joint venture has secured the lowest bidder position for a MoRTH highway project valued at ₹521 crore. The EPC contract will be executed over a three year period in Arunachal Pradesh.

While the financial bid outcome establishes the company as L1 bidder, further procedural steps including issuance of the formal letter of award typically follow tender bid opening stages in public infrastructure contracts.

Source:

• https://www.bseindia.com/stock-share-price/ceigall-india-ltd/ceigall/544223/
• https://www.bseindia.com/xml-data/corpfiling/AttachLive/e262bd8f-5815-4330-8ff1-5637778d9682.pdf