PNC Infratech shares grew 12% after bagging highway project in UP


New Delhi: Construction service provider PNC Infratech shares surges 12% in the early dealing following it has bagged Rs 2,159 crore agreement for six-laning a highway stretch in Uttar Pradesh. At about 9.30 am (IST) the scrip was dealing 7.90 per cent grew at Rs 146.80.

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Shares of the corporation commenced at Rs 146.90 and reach a towering and short of Rs 152 and Rs 146.40 correspondingly in the early trade. Benchmark BSE Sensex grew 190 points, or 0.61 per cent at 31,475. Image result for construction work

The corporation also further stated in a BSE filing that the PNC Infratech Ltd has been affirmed the lowest bidder for NHAI project of 145 km long six-laning of Chakeri -Allahabad segment of NH 2…to be implemented on Hybrid Annuity Mode for a bid project cost of Rs 2,159 crore.

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It further added that this is the fifth hybrid annuity project that having construction period of 2-1/2 years and operation period of 15 years. The shares hit 52-week high of Rs 168.50 on April qyarter and 52-week low of Rs 98.70 for November. Related image