PNC Infratech Stock Rises 4% Over 2 Orders Wins

The stock price of PNC Infratech rose over 4 per cent in the Wednesday trading session after the frim received letter of acceptance (LoA) from Maharashtra State Road Development Corporation for orders worth Rs 22.68 billion. 

“We are pleased to inform you that our company has received letters of acceptance dated from Maharashtra State Road Development Corporation (MSRDC) for two EPC road projects,” stated PNC Infratech in an exchange filing. 

PNC Infratech stock traded at Rs 464 with 4.16 per cent gain in the morning session on the National Stock Exchange (NSE). 

The order worth Rs 2,268 crore included construction of access controlled pune ring road in Pune District package from Indori to Chimbali in the State of Maharashtra on EPC Mode.

While, the other order worth Rs 2,362 crore 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.

Both the orders are expected to be completed within 30 months. 
 

PNC Infratech recently received a LoA for a project at contract value of Rs 20.4 billion from the City and Industrial Development Corporation of Maharashtra (CIDCO) includes development of roads and electrical works.

With a series of frequent order wins, the PNC Infratech stock rallied more the 30 per cent in the year 2024 so far.