PNC Infratech share price surges 4% on project win worth Rs 1,174 crore in Madhya Pradesh

The share touched a 52-week high of Rs 387.20 and a 52-week low of Rs 261.15 on 18 September, 2023 and 26 December, 2022, respectively.

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PNC Infratech rose by 4 percent in early trade on December 19 after the company emerged as the lowest bidder for a project in Madhya Pradesh.

At 09:20 am, PNC Infratech was quoting at Rs 357.60, up Rs 14.30, or 4.17 percent, on the BSE.

“….. has been declared the lowest bidder for a highway project namely “Construction of Western Bhopal Bypass as 4-lane with paved shoulders along with service road starts from km 424.0 of Jabalpur-Bhopal Road (NH-46) and end at km 21.0 of Bhopal-Dewas Road (SH-28) with a Design length of 40.90 km in the State of Madhya Pradesh on Hybrid Annuity Mode (HAM)” of MPRDC (Madhya Pradesh Road Development Corporation),” the company said in a press release.

The bid project cost is Rs 1,174 crore and is to be constructed in 24 months and operated for 15 years, post construction, it added.

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The share touched a 52-week high of Rs 387.20 and a 52-week low of Rs 261.15 on 18 September, 2023 and 26 December, 2022, respectively.

Currently, the stock is trading 7.64 percent below its 52-week high and 36.93 percent above its 52-week low.

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