PNC Infratech bags new Hybrid Annuity Project worth Rs864 crore; stock marginally up

9 Mar 2022 , 02:04 PM

PNC Infratech Limited informed the exchanges and investors today that the company has been declared the L1 (lowest) bidder for an NHAI Project of ‘Improvement and up-gradation of 54.429 km long to 4—lane with Paved Shoulders, from km 174.641 to 229.070 of NH-731 in Hardoi District of Uttar Pradesh on Hybrid Annuity Mode, for a Bid Project Cost of Rs864 crore. The price bids were opened on March 09, 2022, with PNC’s bid being the lowest (L1).

The Project is to be constructed within a period of 30 months and shall remain operative for 15 years post-construction.

Post this development, PNC Infra was trading at Rs239.85, up by 55 paise of 0.23% against its previous closing price of Rs239.30. So far in the day, it touched the intraday high and low of Rs248.40 and Rs239.30 respectively.