PNC Infra falls even after signing Rs 819-crore project

The share touched a 52-week high of Rs 354.55 on February 3, 2023 and a 52-week low of Rs 226.30 on June 29, 2022.

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PNC Infratech share was trading a tad lower on June 28 morning after the company signed a concession agreement with the road transport ministry.

The company will build a four-lane highway stretch of NH-731A in Uttar Pradesh on hybrid annuity mode. The bid project cost is Rs 819 crore.

PNC Infratech signed a concession agreement with the ministry through Uttar Pradesh Public Works Department and a special purpose vehicle, Prayagraj Kaushambi Highway Package 3 Private Limited, incorporated by it for the project.

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The project is to be built in 24 months and operated for 15 years.

At 9.50 am, PNC Infratech was quoting at Rs 334.95, down Rs 1.50, or 0.45 percent, on the BSE.

The share touched a 52-week high of Rs 354.55 on February 3, 2023 and a 52-week low of Rs 226.30 on June 29, 2022.

Iit is trading 5.53 percent below its 52-week high and 48.01 percent above its 52-week low.