iStock"The company has been declared Ll (Lowest) bidder in a Ministry of Road Transport & Highways' project "Construction of 4 lane highway from km 49.155 to km 74.700 (Singraur Uphar to Baranpur Kadipur lchauli) of NH-73IA with paved shoulders (i/c Ganga Bridge) in the state of Uttar Pradesh on Hybrid Annuity Mode (Package-Ill)" for a bid project cost of Rs 819.0 crore," the company said in a BSE filing.
The project is to be constructed in 24 months and operated for 15 years, post-construction, the company said.
At 11.50 am, the stock was trading 6.3% higher at Rs 282 over its previous day's closing price of Rs 265.4 per share. However, on a year-to-date basis, the stock declined 9%, while it surged 16% in the last year.
As per Trendlyne data, the average target price of the stock is Rs 402, an upside potential of 43% from the current market prices. The consensus recommendation from 12 analysts for PNC Infratech is Buy. Out of these analysts, 11 have strong buy ratings, while one has a buy call.
Technically, PNC Infratech is trading below 6 out of 8 SMAs. The stock traded lower than the 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day moving averages but higher than the 5-day and 200-day moving averages.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Tuesday, 28 Mar, 2023- Front Page
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