PNC Infratech on good road

PNC Infratech has spurted up 3% to Rs.182 in the opening bell session. Its 52-week high is at Rs.228.40 and low at Rs.130.

The stock is up on news which the company yesterday late evening that it has emerged as the lowest bidder for the Mumbai-Nasik expressway.

This expressway is 54.5 kms long and will be 6-lane and PNC is lowest bidder for 4th package - 162.667 kms to 217.023 kms, village Donad Bk. to village Januana Kh. section in Washim District.

This on an EPC basis for a quoted price of Rs. 2099.52 crore. The price bids were opened on Thursday, May 31, 2018, with PNC’s bid being the lowest (L1).

Maharashtra State Road Development Corporation (MSRDC) is the proponent for this 700.0 km long Green Field Expressway Project comprising 16 individual packages. Construction of the project is to be completed in 30 months.