PNC Infra gains on bagging construction order in UP

PNC Infratech has received Letters of Award (LoA) from National Highways Authority of India (NHAI). The shares of the company jumped over 4 per cent intraday reacting to the news.

The said project is for the 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. The company has been given 36 months to complete the construction of this project.

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.

The shares of PNC Infratech on Wednesday opened at Rs. 160 as against Tuesday’s close of Rs 161.80 per share on the BSE. At 14:27 hours the stock was trading at Rs 164.75, gaining 1.82 per cent. The stock hit an intraday high of Rs. 168.30 and intraday low was Rs. 153. Its 52-week high was Rs. 219 and 52-week low was Rs. 123.50 per share on the BSE.