PNC Infratech bags Rs 1,458 crore order from NHAI; stock climbs 6%

Shares of PNC Infratech climbed nearly 6 per cent to Rs 304 per share in Friday’s intra-day trade, after the company bagged an order worth Rs 1,458 crore from National Highways Authority of India (NHAI) on Thursday, September 8.

At 1:55 pm, shares of PNC Infratech traded at Rs 293 apiece, up 2 per cent on the BSE. In comparison, the BSE S&P Sensex was up 0.2 per cent at 59,832 levels. In the past three months, the stock has rallied over 15 percent, as against a 7 per cent surge in the S&P BSE Sensex.

The construction and engineering company signed a concession agreement between NHAI and Sonauli Gorakhpur Highways, a Special Purpose Vehicle incorporated by the company to implement the Hybrid Annuity Mode (HAM) project.