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PNC Infratech surges on receiving LoA from NHAI

PNC Infratech is currently trading at Rs. 164.20, up by 2.40 points or 1.48% from its previous closing of Rs. 161.80 on the BSE.

The scrip opened at Rs. 160.00 and has touched a high and low of Rs. 168.30 and Rs. 153.00 respectively. So far 11048 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 219.40 on 03-Jul-2019 and a 52 week low of Rs. 123.50 on 25-Oct-2018.

Last one week high and low of the scrip stood at Rs. 175.00 and Rs. 153.00 respectively. The current market cap of the company is Rs. 4239.31 crore.

The promoters holding in the company stood at 56.07%, while Institutions and Non-Institutions held 29.32% and 14.61% respectively.

PNC Infratech has received Letters of Award (LoA) from National Highways Authority of India (NHAI) on October 15, 2019 for the project ‘Construction of NH-56, 4 -lane bypass connecting NH-56 at Km. 17 plus 400 and terminating near Behta Village Road (bypass Chainage from km 0.00 to km 32.000131.489 average length 31.745 km) in the state of Uttar Pradesh under NHDP phase -VII on EPC mode (Package-I)’ for a contract value of Rs 1062 crore. Construction of this project is to be completed in 36 months.

PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.