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PNC Infratech surges with its arm receiving final realization of arbitration award

PNC Infratech is currently trading at Rs. 160.05, up by 4.45 points or 2.86% from its previous closing of Rs. 155.60 on the BSE.

The scrip opened at Rs. 158.10 and has touched a high and low of Rs. 164.00 and Rs. 158.10 respectively. So far 2209 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 184.50 on 31-May-2018 and a 52 week low of Rs. 122.70 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 164.00 and Rs. 146.60 respectively. The current market cap of the company is Rs. 3991.75 crore.

The promoters holding in the company stood at 56.07%, while Institutions and Non-Institutions held 28.28% and 15.65% respectively.

PNC Infratech’s wholly owned subsidiary company – PNC Delhi Industrialinfra has received the realization of Rs 145.63 crore on May17, 2019 from Delhi State Industrial & Infrastructure Development Corporation (DSIIDC) towards the final arbitration award published in its favour for the project of ‘Redevelopment & Management of Narela Industrial Estate in Delhi’ on November 17, 2018.

Earlier in January 2018, the subsidiary company had received Rs 43.00 crore as an interim award from DSIIDC in the same matter; thus, the total arbitration award received by the subsidiary comes to Rs 188.63 crore. Out of the total amount Rs 129.00 crore awarded towards the six outstanding annuities and Rs 59.63 crore awarded towards interest and other claims.

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.