Ceigall India shares are likely to be on investors’ radar in Thursday’s trade, August 20, after the company secured another road construction order in Arunachal Pradesh. In its regulatory filing on Wednesday, the company said it had received a Letter of Acceptance (LOA) worth ₹274.08 crore for Package-2 of the Bile-Migging section of NH-913.
The project has been awarded to a joint venture between Ceigall India Limited and Rajinder Infrastructure Private Limited, in which Ceigall India holds a 70% stake and Rajinder Infrastructure holds the remaining 30%.
Awarded by the Ministry of Road Transport and Highways (MoRTH), the project carries a 48-month construction period followed by a five-year maintenance period. This marks the fifth LoA received on NH-913, taking the company’s cumulative wins on the corridor over the past two days to ₹2,423.70 crore.
Earlier this week, the company received LoAs through its joint venture with Sushee Infra Mining Limited for the construction of intermediate-lane roads across the Huri-Taliha and Sarli-Huri sections of NH-913, with an aggregate bid cost of ₹2,149.62 crore.
Those four packages carry construction periods of 36 to 48 months, each followed by a five-year maintenance period. Taken together, the five LoAs, spanning approximately 278 km of the Frontier Highway, mark one of the company’s most significant order-win periods on a single corridor.
These wins further strengthen Ceigall India’s order book and reinforce the company’s strategy of expanding its geographical presence and diversifying its infrastructure portfolio across high-potential markets, including its growing role in the development of critical road infrastructure across the Northeast.
Commenting on the development, Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, said, “Within the space of two days, our joint ventures have secured five Letters of Acceptance worth a combined ₹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.
“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,” he further added.
Shares remain volatile
After staging a sharp rebound, the stock turned volatile, losing a cumulative 20% in less than two months and falling to ₹313.65 apiece. However, its year-to-date returns still remain strong at 17%, supported by a sharp rebound between December 2025 and June 2026.
The rally marked a sharp turnaround from last year’s 21% decline, although the stock is still down 22% from its issue price. The stock debuted in August 2024 at a discount to its issue price of ₹401 apiece, and weak momentum persisted over the following seven months before the stock’s momentum started picking up.
According to Trendlyne shareholding data, promoters held a majority stake of 82.1% in the company as of the June-ended quarter, while public shareholders owned around 10%.
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