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Sunil Singhania stock: Shares of engineering and construction company – HG Infra Engineering, backed by celebrity investor Sunil Singhania, on Tuesday jumped by over 6 per cent to touch day’s high of Rs 630 apiece on the BSE.
The surge in the counter came on the back of healthy first-quarter earnings in the financial year 2022-23. The stock at around 09:45 AM was up nearly 2 per cent to Rs 603.85 per share against a 0.15 per cent fall in the S&P BSE Sensex at the same time.
The company’s profit in Q1FY23 grew by over 8 per cent year-on-year to Rs 1094.45 crore as against Rs 1010.18 crore in a year-ago quarter, while the revenue from operations surged by over 17 per cent to Rs 11,059 crore in the June quarter of FY23 as compared to Rs 9432 crore in Q1FY22.
The engineering company’s shares in the last two years have surged over three-fold from Rs 182 per share levels to Rs 603 levels, up over 231 per cent. It has marginally gained by over 15 per cent outperforming the BSE Sensex up over 8.5 per cent during the same period.
The counter had hit a 52-week level of Rs 830.8 per share on October 27, 2021, and Rs 481 per share level a 52-week low on January 28, 2021. The scrip is trading nearly at a 25 per cent discount from its 52-week high level.
Sunil Singhania’s asset management firm Abakkus Asset Manager LLP holds 9,83,187 equity shares, which translates into 1.51 per cent stakes in HG Infra Engineering, as per the June shareholding pattern of the company available on the BSE.
The renowned investor has stayed put in the stock during the June quarter, as per the holding pattern.
Sunil Singhania publicly holds 28 stocks with a net worth of over Rs 2,215.5 crore as of August 2, 2022, according to the stock analysis website trendlyne.com.
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