PNC Infratech surges 12% on bagging Rs 2,159 crore contract in UP
ETMarkets.com|
Updated: Oct 03, 2017, 10.27 AM IST
NEW DELHI: Shares of PNC Infratech advanced as much as 12 per cent in early trade after the company informed bourses that it has bagged Rs 2,159 crore contract for six-laning a highway stretch in Uttar Pradesh.
The scrip was trading 7.90 per cent up at Rs 146.80 around 9.30 am (IST). Shares of the company opened at Rs 146.90 and touched a high and low of Rs 152 and Rs 146.40, respectively, in trade so far. Benchmark BSE Sensex was up 190 points, or 0.61 per cent, at 31,475 at around the same time.
“PNC Infratech Ltd has been declared the L1 (lowest) bidder for NHAI project of 145 km long six-laning of Chakeri -Allahabad section of NH 2...to be executed on Hybrid Annuity Mode for a bid project cost of Rs 2,159 crore,” the company said in a BSE filing.
This is the fifth hybrid annuity project won by the company having construction period of 2-1/2 years and operation period of 15 years, it added.
The stock had hit 52-week high of Rs 168.50 on April 25, 2017 and 52-week low of Rs 98.70 on November 15, 2016.
The scrip was trading 7.90 per cent up at Rs 146.80 around 9.30 am (IST). Shares of the company opened at Rs 146.90 and touched a high and low of Rs 152 and Rs 146.40, respectively, in trade so far. Benchmark BSE Sensex was up 190 points, or 0.61 per cent, at 31,475 at around the same time.
“PNC Infratech Ltd has been declared the L1 (lowest) bidder for NHAI project of 145 km long six-laning of Chakeri -Allahabad section of NH 2...to be executed on Hybrid Annuity Mode for a bid project cost of Rs 2,159 crore,” the company said in a BSE filing.
This is the fifth hybrid annuity project won by the company having construction period of 2-1/2 years and operation period of 15 years, it added.
The stock had hit 52-week high of Rs 168.50 on April 25, 2017 and 52-week low of Rs 98.70 on November 15, 2016.
