PNC Infratech up 8%

PNC Infratech is right there among the top five gainers on the BSE since the opening bell today; opening 3% higher at Rs.292.90, it rose 8% to an intraday high at Rs.286.30. And this is on the back of a 4x surge in volumes.

The stock price rose after it announced that it has been declared the L1 (Lowest) bidder for a Highway Project.

This for the construction of 4-lane highway from Singraur Uphar to Baranpur Kadipur Ichauli, of NH-731A with paved shoulders in the state of Uttar Pradesh on Hybrid Annuity Mode.

The bid project cost was Rs.819 crore.

The project is to be delivered in 24 months and operated for 15 years, post construction.

This comes close on the heels of another order it received last week - Design and Construction of Civil Works and its connectivity to Indian Railways network from New Patli to Patli Station and New Patli to Sultanpur Station. The project cost for this was Rs.776.30 and is to be completed in 30 months.