PNC Infratech soars on getting LoA from MSRDC for two EPC road projects
PNC Infratech is currently trading at Rs. 462.85, up by 16.80 points or 3.77% from its previous closing of Rs. 446.05 on the BSE.
The scrip opened at Rs. 469.70 and has touched a high and low of Rs. 470.40 and Rs. 461.25 respectively. So far 126368 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 574.50 on 27-May-2024 and a 52 week low of Rs. 310.05 on 09-Nov-2023.
Last one week high and low of the scrip stood at Rs. 470.40 and Rs. 439.00 respectively. The current market cap of the company is Rs. 11894.44 crore.
The promoters holding in the company stood at 56.07%, while Institutions and Non-Institutions held 37.19% and 6.74% respectively.
PNC Infratech has received Letters of Acceptance (LoA) from Maharashtra State Road Development Corporation (MSRDC) for two Engineering, Procurement and Construction (EPC) Road Projects. The company has received LoA worth Rs 2268.00 crore for Construction of Access Controlled Pune Ring Road in Pune District Package PRR E2 from Indori Km 12+500 To Chimbali Km 26+300 (Length: 13.800 Km) Tq. Mawal & Khed in the State of Maharashtra on EPC Mode.
Also, the company has received LoA worth Rs 2362.00 crore for construction of Access Controlled Expressway Connector to Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in the State of Maharashtra on EPC Mode for Package JNE-04 from Km 98+945 Kumbhari Tq. Jintur to Km 127+840 Katneshwar Tq. Purna District Parbhani (Length: 28.895 Km). The construction period for both the projects is 30 months each.
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.