PNC Infratech gets relief

PNC Infratech is currently the top gainer on the BSE; from its close of Rs.294.70, the stock opened higher at Rs.323.965 and rose a bit further to an intraday high at Rs.324.

There was some good news for the company. The Ministry of Road Transport & Highways (MoRTH), in Oct’24 had disqualified the company and two of its subsidiaries from participating in any tender process of the Ministry for a period of one year with effect from 18.10.2024.

It has now got relief from the MoRTH via reduction of the period of disqualification (debarment) from one year to four months from the date of original debarment order dated October 18, 2024, subject to NHAI procedures.

The reduced curb on bidding implies the order by MoRTH ends in February 2025, four months after the order was passed.