PNC Infratech surges on emerging as L1 bidder for highway project in Bihar
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PNC Infratech is currently trading at Rs. 291.55, up by 6.90 points or 2.42% from its previous closing of Rs. 284.65 on the BSE.
The scrip opened at Rs. 299.90 and has touched a high and low of Rs. 299.90 and Rs. 290.40 respectively. So far 23649 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. 278.00 respectively. The current market cap of the company is Rs. 7478.12 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 the L1 (Lowest) bidder for a Highway Project namely ‘Construction of 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Pachmon village to Anarbansalea village (from km 116+000 to km 151+200; Length = 35.2 km), ‘Package 6’ under Bharatmala Pariyojana in the state of Bihar on Hybrid Annuity Mode’ from NHAI with a Bid Project Cost of Rs 1260 crore, on March 14, 2023. Price bids were opened on Tuesday, March 14, 2023, with PNC’s bid being the lowest (L1). Project is 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.
