PNC Infratech soars on getting Rs 37 crore as bonus for early completion of EPC projects
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PNC Infratech is currently trading at Rs. 254.15, up by 10.25 points or 4.20% from its previous closing of Rs. 243.90 on the BSE.
The scrip opened at Rs. 247.85 and has touched a high and low of Rs. 254.50 and Rs. 247.50 respectively. So far 12909 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 395.55 on 13-Oct-2021 and a 52 week low of Rs. 217.50 on 06-May-2021.
Last one week high and low of the scrip stood at Rs. 254.50 and Rs. 243.30 respectively. The current market cap of the company is Rs. 6256.99 crore.
The promoters holding in the company stood at 56.07%, while Institutions and Non-Institutions held 36.82% and 7.11% respectively.
PNC Infratech has received Rs 37 crore as bonus for early completion of one of its EPC projects namely ‘Development of Purvanchal Expressway (Package VI) from km 218+300 to 246+500, in the state of Uttar Pradesh’ from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), Authority for the Project on April 20, 2022.
The project has been completed on November 30, 2021, 97 days ahead of the scheduled completion date. Accordingly, bonus 0.04% of the contract price (Rs 954.0 crore), for each day of early completion received by the company, in terms of the contract agreement.
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.
