PNC Infratech moves higher on emerging as L1 bidder for two highway projects
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PNC Infratech is currently trading at Rs. 296.15, up by 9.85 points or 3.44% from its previous closing of Rs. 286.30 on the BSE.
The scrip opened at Rs. 295.00 and has touched a high and low of Rs. 298.45 and Rs. 287.15 respectively. So far 48368 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 298.45 and Rs. 281.85 respectively. The current market cap of the company is Rs. 7576.88 crore.
The promoters holding in the company stood at 56.07%, while Institutions and Non-Institutions held 38.90% and 5.03% respectively.
PNC Infratech has been declared as the L1 (lowest) bidder for two Highway Projects of National Highways Authority of India (NHAI), with an aggregate bid project cost of Rs 2004.43 crore. Price bids were opened on March 9, 2023, with PNC’s bids being lowest (L1). Firstly, the company has been declared the L1 bidder for construction of 6-lane Greenfield Varanasi - Ranchi – Kolkata Highway from junction with Chandauli - Chainpur Road near Khainti village to junction with Bhabhua - Adhaura road near Palka village for 27.0 km length (from km 27+000 to km 54+000) under Bharatmala Pariyojana in the state of Bihar on Hybrid Annuity Mode with bid project cost of Rs 891.00 crore.
Secondly, the company has been declared the L1 bidder for Construction of 6-lane Greenfield Varanasi - Ranchi – Kolkata Highway from junction with Bhabhua - Adhaura Road in Bhairopur village to Konki village for 36.0 km length (from km 54+000 to km 90+000) under Bharatmala Pariyojana in the state of Bihar on Hybrid Annuity Mode with bid project cost of Rs 1113.43 crore. Both the Projects are to be constructed in 24 months and operated for 15 years, post construction.
PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.
