PNC Infratech bags two Purvanchal Expressway orders

Stocks of PNC Infratech construction engineering company surged 3 per cent post the news that the company has received two Engineering, Procurement and Construction (EPC) orders of the Purvanchal Expressway in Uttar Pradesh.

The company was declared as L1 bidder in two contiguous packages of Lucknow - Ghazipur Six Lane Access Controlled Purvanchal Expressway Project in the state of Uttar Pradesh on EPC basis for an aggregate quoted value of Rs. 2,520.00 crore, Rs. 1,566 crore for one package and Rs. 954 for the other. Construction of each package is to be completed in 36 months on EPC mode.

On Tuesday, the stock's intraday high was at Rs. 156.80 per share and intraday low was at Rs 152.35 per share on the BSE. At 12:16 hours, PNC Infratech was trading at 155.10, up by 1.81 per cent. The stocks 52-week high is Rs. 228.40 and 52-week low is Rs. 130 per share.

Meanwhile, BSE Sensex was trading at 36,191.56, up by 0.70 per cent while Nifty50 traded at 10,927.15 level, up by 0.68 per cent.