HG Infra down 8.5%

One can see the profit booking spree almost across all counters as even post good earnings and even good news, stock prices are going down into the red rather than moving up.

HG Infra had good news over the weekend- it announced receipt of provisional certificate of completion for up-gradation of the road in Maharashtra and the project has been provisionally declared fit for entry into operation on December 15, 2020.

The project is rehabilitation and up-gradation of Morshi- Chandur-BazarAchalpur Section on Engineering, Procurement & Construction (EPC) Basis Contract. The project cost is pegged at Rs.239 crore.

Yet, despite this news, the stock is in the red. The stock opened 1% lower at Rs.723, and going down to hit an intraday low at Rs.667.85, down 8.5%.