HG Infra shares zoom 14% in afternoon session; here's the trigger behind sudden rally 

Shares of civil construction firm HG Infra Engineering Ltd surged 14% in the afternoon session on Thursday after the firm said it has received a completion certificate for a road project in Delhi.

The infra stock rose 14% to Rs 512.60 against the previous close of Rs 450.20 on BSE. Market cap of HG Infra rose to Rs 3298 crore on BSE.

Total 2.63 lakh shares of the firm changed hands amounting to a turnover of Rs 13.20 crore on BSE.

HG Infra shares have a beta of 1.46, indicating high volatility in a year.

The multibagger stock is trading higher than the 5 day, 10 day, 20 day, 30 day  but lower than the 50 day, 100 day, 150 day and 200 day moving averages. It is neither overbought nor oversold on charts with a RSI of 30. 
 
"The project is for Development of 6-lane Urban Extension Road (UER) -II - NH- 344 M, Package 1 (from NH 1 to Karala-Kanjhawala Road, Km (-) 0+700 to 15+000) in the State of Delhi on EPC mode," said the firm. 
Cost of the project is Rs 1393.11 crore. The project is completed as per the schedule.

HG Infra Engineering is engaged in engineering, procurement and construction (EPC) business including maintenance of roads, bridges, flyovers and other infrastructure contract works.