Rs 20,530 crore order book: This civil construction company receives order worth Rs 819 crore from Ministry of Road Transport & Highways!
The stock is up by 45 per cent in just 1 year and generated multibagger returns of over 140 per cent in 3 years.
PNC Infratech Ltd announced that the company is signing of a concession agreement with Ministry of Road Transport & Highways (MORT&H) for a project worth Rs 819 crore and will be constructed within 24 months from LOI. The project includes the construction of a 4-lane highway from Singraur Uphar to Baranpur Kadipur Ichauli of NH- 731A with paved shoulders (i/c Ganga Bridge) in the state of Uttar Pradesh on Hybrid Annuity Mode (HAM).
PNC Infratech Limited is one of the front-ending infrastructure projects, including highways, bridges, flyovers, power transmission lines and towers, airport runways, industrial area development, and other infrastructure activities. As of March 31, 2023, the company has a robust order book of Rs 20,530 crore (including contracts worth Rs 4,854 crores not yet included in the order book).
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On Wednesday, shares of PNC Infratech surged 0.52 per cent to an intraday high of Rs 338.20 per share from its previous closing of Rs 336.45. At 03:30 pm, shares of the company ended the day in the red, down 2.24 per cent to Rs 328.90 per share.
The shares of the company have a PE of 12.80x, a ROE of 17.37 per cent and a ROCE of 15.74 per cent. The stock is up by 45 per cent in just 1 year and generated multibagger returns of over 140 per cent in 3 years. Investors should keep an eye on this mid-cap civil construction stock.