HG Infra Engineering stock climbs 8% on incorporation of six subsidiaries

Shares of HG Infra Engineering climbed 8 per cent on Monday’s trade following the incorporation of six subsidiaries.

The stock traded at ₹1,841.70 on the NSE, higher by 7.65 per cent as of 12.10 pm. It also hit a 52-week high at ₹1,867.95 today.

As per the stock exchange filing, the company announced the incorporation of the following subsidiaries to carry out solar power business:

H.G. Kapuriya Solar Project Private Limited
H.G. Jetpur Solar Project Private Limited
H.G. Bhada Solar Project Private Limited
H.G. Surnana Solar Project Private Limited
H.G. Peelwa Solar Project Private Limited
H.G. Jakhan Solar Project Private Limited

The disclosure added that the initial subscription to each units share capital of ₹51,000 is divided into 5,100 equity shares of ₹10 each by HG Infra Engineering, and ₹49,000 divided into 4,900 equity shares of ₹10 each by H.G. Solar Projects Private Limited, a wholly-owned subsidiary of the company.