Ceigall Secures ₹509-Crore Mohali Township Order - SEBI Analyst Says Breakout Above ₹290 Could Spark Rally

Ceigall India shares rose marginally on Monday after the company said it has secured a ₹509.20-crore infrastructure project in a joint venture with JSP Projects for the development of the Mohali township in Punjab.

The company said the joint venture has been awarded a Letter of Acceptance (LOA) by the Greater Mohali Area Development Authority (GMADA) for the integrated development of IT City township at Mohali. 

The contract includes internal roads and related civil, public health, and electrical works and is to be executed within 24 months under an item-rate contract.

Analyst View

According to SEBI-registered A & Y Market Research, the project is significant for Ceigall India as it expands the company's portfolio beyond highway engineering into real estate-linked urban infrastructure.

The research firm said the contract improves order book visibility and strengthens the company's credentials in the infrastructure space. It added that both central and state government initiatives toward urban development and smart city projects could act as long-term tailwinds for companies like Ceigall.

A & Y Market Research said the order enhances revenue visibility and demonstrates Ceigall's execution capabilities in large-scale projects outside its core road segment. 

The firm noted that investors are likely to track execution timelines, margins, and future order inflows as key triggers in the near term.

Technical View

A & Y Market Research said the stock has been trading within a tight range since February 2025, with a resistance at ₹289.45 and support at ₹238.63.

The firm highlighted that a breakout above ₹290 could mark a trend reversal and drive the stock higher. As long as the price holds above ₹238.63, the chances of an upside breakout remain strong.

The firm suggested a buying strategy above ₹290, while monitoring whether the stock can sustain above this level to confirm the trend change.

What Is The Retail Mood?

On Stocktwits, retail sentiment was 'bearish' amid 'extremely high' message volume.

Ceigall's stock has declined 23.7% so far in 2025.

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