Ceigall India Share Price Up 0.53% After Company Emerges L1 Bidder For ₹274.08 Crore Highway Project

Mumbai, March 16: Ceigall India Limited said it has emerged as the lowest bidder for a road construction project valued at ₹274.08 crore awarded by the Ministry of Road Transport and Highways, according to an exchange disclosure.

The company informed stock exchanges that the project has been secured through a joint venture with Rajinder Infrastructure Private Limited. Under the arrangement, Ceigall India holds a 70% stake in the joint venture while Rajinder Infrastructure holds the remaining 30%.

The contract will be executed under the Engineering, Procurement and Construction model. The scope of work includes construction of a road stretch from kilometre 17.812 to kilometre 55.377 under Package 2 of the Bile-Migging section on National Highway 913, also referred to as the Frontier Highway, in Arunachal Pradesh.

According to the filing, the project involves upgrading the highway section from the intermediate lane configuration on EPC mode.

Share Price Movement

Ceigall India shares traded higher following the disclosure of the project bid outcome.

The Ceigall India share price stood at ₹267.50, up ₹1.40 or 0.53% as of 1:14 PM IST on March 16, 2026, according to exchange data. The stock opened at ₹266.10 and moved between ₹258.15 and ₹273.00 during the session so far.

At the prevailing price, the company’s market capitalisation was around ₹4,660 crore.

Company Background

Ceigall India Limited operates in the infrastructure construction sector with a focus on road and highway development projects across India.

The company undertakes projects under EPC and hybrid annuity models and executes contracts for central and state government authorities including the Ministry of Road Transport and Highways and the National Highways Authority of India.

Its project portfolio includes highway construction, elevated corridors, bridges and urban infrastructure works.

Conclusion

The ₹274.08 crore highway project strengthens Ceigall India’s order pipeline in the roads and infrastructure segment. The project is expected to have a construction period of 48 months followed by a maintenance period of five years, as outlined in the regulatory filing.

Infrastructure contractors continue to see order opportunities from central highway development programmes, particularly in strategically important regions such as the northeastern states.

Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/da781cb2-976b-4fd1-8484-fde8726f0da8.pdf