PNC Infra rises ~1% on bagging new order worth Rs885 crore

25 Feb 2022 , 03:14 PM

In its press release on Friday, PNC Infratech Limited, announced that the company has been declared the L1 (lowest) bidder for an NHAI Project of 32.98 km long, four laning of Mathura Bypass to Gaju Village section of NH 530B in the State of Uttar Pradesh, to be executed on Hybrid Annuity Mode for a Bid Project Cost of Rs885 crore.

The price bids were opened on Friday, February 25, 2022, with PNC’s bid being the lowest (L1).

PNC is expected to complete this project within a period of 24 months and shall remain operative for a period of 15 years post-construction.

Following this development, PNC Infra jumped 1.15% at Rs264.95 against its previous closing price of Rs261.95. It touched day’s high and low of Rs275 and Rs258.80 respectively, so far.