India, Sept. 18 -- Highway Infrastructure Limited, which runs businesses across tolling, EPC, and real estate out of Indore, has landed a new mandate tied to Uttar Pradesh's expressway network. The company confirmed it received approval from a state authority to take over fee collection and operational duties along a key stretch, under an arrangement that runs multiple years and includes a scheduled payment increase after year one. Exact terms suggest a fairly substantial addition to HIL's existing book of toll contracts.

Shares of Highway Infra Ltd are trading at Rs. 44.61, up 3.58 percent on Friday. The stock touched the intraday high of Rs. 46.74 after opening at Rs. 43.07. The company commands a market capitalization of Rs. 319.95 c...