PNC Infra on good roads

PNC Infratech is attracting some attention today. The rose over 7.5% intraday to hit the day’s high point at Rs.263.50, with volumes surging almost 3x. Its 52-week high is at Rs.395.55 and low at Rs.226.90.

The company announced today afternoon that it has signed a concession agreement for a HAM project with National Highways Authority of India (NHAI) following Hybrid Annuity Mode (HAM) Project in Karnataka, for bid project cost of Rs. 1575 crore.

This is for construction of 6-lane, 71 kms,access controlled Greenfield Highway under Bharatmala Pariyojna.