PNC Infratech share jumps more than 3 per cent on receiving LOA for EPC project

PNC Infratech, a construction engineering company, gained more than 3 per cent after announcing that it has received a letter of acceptance (LOA) for an engineering, procurement & construction (EPC) project.

The company has received an order worth Rs 1,000.72 crore from Water Resources Department, Government of Andhra Pradesh, on November 30, 2020. The order is to upgrade the canal system from Pothireddypadu Head Regulator and BCR Complex from the foreshore of Srisailam Reservoir and improvements to the existing Srisailam Right Bank Canal (SRBC)/Galeru Nagari Sujala Sravanthi Project (GNSS) Canal up to berm level from Banakacherla Complex to Gorukallu Balancing Reservoir.

PNC Infratech Limited is an infrastructure development company, engaged in the construction of highways including built, operate & transfer (BOT) projects, airport runways, bridges, flyovers and power transmission projects among others.

At the time of market closing, its share was trading at Rs 175.35, up by 2.66 per cent while at 2.01 pm, it was trading up by 2.11 per cent at Rs 174.4. The share recorded an intraday high of Rs 176.50. It has a 52-week high of Rs 214.75. It has gained approximately 115.7 per cent from its 52-week low of Rs 80.85 on BSE.