Completion certificate received for Delhi-Saharanpur Highway project

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Price reactionminutes from the announcement price · days from the prior close

+3.8%Reaction day

₹367.90

prior close

₹366.45

announcement price

In-mkt

timing

Nifty Microcap 250market+0.2%+3.6% vs market

Civil Construction peers, median of 97sector+0.1%+3.6% vs sector

On the reaction day the stock moved 3.6 pts more than Nifty Microcap 250 and 3.6 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

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Next day

+6.0+0.9+5.1+0.6+5.4

+5.5-0.8+6.2-0.0+5.5

+6.6-0.1+6.7-0.0+6.6

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15d

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 97Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Ceigall India along with joint venture partner Gayatri Projects has received the Completion Certificate from NHAI for the six-lane Delhi-Saharanpur Highway project in Uttar Pradesh, built under the Bharatmala Pariyojna. Revised project cost is Rs 1,659.84 crore, with the EPC portion valued at Rs 1,323.52 crore. The highway was completed on September 12, 2024 within the cure period. A settlement agreement with NHAI was signed on October 9, 2026, resolving outstanding items.

Likely market impact

Settlement with NHAI likely clears pending claims and paves way for final billing and revenue recognition on this large EPC order, reducing execution overhang.