Ceigall India shares jump 6% as JVs secure Rs 2,424 crore worth orders; key details

Shares of Ceigall India Ltd rose as much as 6 per cent in Thursday's trade after the infrastructure development company said its joint ventures had secured five Letters of Acceptance from the Ministry of Road Transport and Highways worth a combined bid cost of Rs 2,423.70 crore for road construction projects in Arunachal Pradesh within two days.

Following the development, the stock climbed 6.04 per cent to a high of Rs 333.10 on the BSE. The company said the five LOAs, spread across nearly 278 km of the Frontier Highway, further strengthened its presence in the Northeast. The scrip has delivered a return of 17.49 per cent in 2026 so far, against a 9.10 per cent decline in the BSE Sensex.

The latest award is a Rs 274.08 crore EPC package for the construction of the road from km 17.812 to km 55.377, or Package-2, of the Bile-Migging section of NH-913 to Intermediate Lane standards. The company said the project has been awarded to the joint venture between Ceigall India Ltd and Rajinder Infrastructure Pvt Ltd, in which Ceigall India holds a 70 per cent stake and Rajinder Infrastructure holds the remaining 30 per cent.

According to the company, this project has a construction period of 48 months, followed by a five-year maintenance period. It follows four LOAs received by the company's joint venture with Sushee Infra Mining Ltd for the construction of Intermediate Lane roads across the Huri-Taliha and Sarli-Huri sections of NH-913, with an aggregate bid cost of Rs 2,149.62 crore.

The company said those four packages carry construction periods of 36 to 48 months, with each followed by a five-year maintenance period. Taken together, the five LOAs, covering about 278 km of the Frontier Highway, mark one of the company's biggest order-win windows on a single corridor and highlight its scale and execution capability in a strategically important and operationally challenging geography.

Commenting on the development, Ramneek Sehgal, Chairman and Managing Director of Ceigall India Ltd, said, "Within the space of two days, our joint ventures have secured five Letters of Acceptance worth a combined Rs 2,423.70 crore on the Frontier Highway alone — a reflection of the confidence authorities continue to place in our execution capabilities and of the depth of our presence in Arunachal Pradesh. Together, these five packages span nearly 278 km of Intermediate Lane road construction across some of the region's most demanding terrain. Arunachal Pradesh presents distinctive engineering and execution challenges, and we remain committed to delivering all five projects with the highest standards of quality, safety and timely execution, while contributing meaningfully to the region's connectivity and economic development."

The orders include one package awarded to the Ceigall India-Rajinder Infrastructure joint venture and four awarded to the Ceigall India-Sushee Infra Mining joint venture, with all five projects relating to NH-913 in Arunachal Pradesh and carrying maintenance obligations after the construction period.