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PNC Infratech up 2% as co lowest bidder for NHAI project

The company’s bid for the project in Uttar Pradesh is worth Rs1,197cr.

Shares of PNC Infratech gained nearly 2% today after the company emerged the lowest bidder for National Highways Authority of India’s (NHAI) project for four-laning of a 45-km stretch of National Highway-91, with a bid of Rs1,197cr.

The said highway stretch is between Aligarh and Kanpur in Uttar Pradesh. The construction period for the project is two years, while the operation period is 15 years, the company said.

PNC Infratech Ltd is currently trading at Rs157.70 up by Rs3.3 or 2.14% from its previous closing of Rs154.40 on the BSE.
The scrip opened at Rs158 and has touched a high and low of Rs160.10 and Rs156.05, respectively. So far 85,926 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs3,960.96cr.
PNC Infratech has executed/is executing projects across various states in India including Rajasthan, Punjab, Haryana, Uttarakhand, Uttar Pradesh, Delhi, Bihar, West Bengal, Assam, Madhya Pradesh, Maharashtra, Karnataka and Tamil Nadu. PNC has a project portfolio of 12 development projects on PPP model, where it has four toll projects, two annuity projects, five hybrid model annuity projects and one operate, maintain and transfer (OMT) project.