PBA Infra breaches the 10% UC

PBA Infrastructure breached the upper circuit today at Rs.23.30, up 10% and it is now at Rs.23, with volumes jumping up over 5 times. Its 52-week high stands at Rs.29.

The company announced today morning that it has bagged a huge engineering, procurement and construction (EPC) order worth Rs.158 crore. This order is for widening and strengthening of existing highway section to two laning paved shoulder of NH 848 including design change of approximately 39.10km in Nashik, Maharashtra.

This company was earlier known as Prakash Building Associates Ltd. The company is engaged in execution of civil engineering projects and specialises in construction of highways, dams, runways and heavy RCC structures, bridges and other infrastructure projects. Its clients include various government agencies viz. NHAI, Cidco MSSRDC Ltd, AAI and PWDs of various state governments.

With most of its projects executed or under construction in Maharashtra, the company had ended Q2FY16 with a net loss of Rs.4 crore. There is no FII holding and promoter stake stands at 57.65%.