PNC Infratech announced that its subsidiary, PNC Unnao Highways has received communication from National Highways Authority of India confirming the achievement of financial closure for one of the highway projects in Uttar Pradesh.
The project entails the four laning of Unnao-Lalganj section of NH 232 A from km 0.000 to 70.000 new NH-31 (old NH-232A) in the state of Uttar Pradesh under NHDP-IVB. The company's bid project cost is Rs 1602 crore.
The announcement was made after market hours yesterday, 2 February 2021. Shares of PNC Infratech jumped 10.68% to settle at Rs 217.10 yesterday.
The stock hit a 52-week high of Rs 221.95 on 02 February 2021. The stock hit a 52-week low of Rs 80.85 on 25 March 2020.
PNC Infratech is engaged in infrastructure development through the construction of highways including BOT (built, operate and transfer projects), airport runways, bridges, flyovers and power transmission projects among others.
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