PNC Infratech shares tank nearly 5% in debut trade

Shares of PNC Infratech settled at a loss of nearly 5 per cent against the issue price of Rs 378 apiece on the first day of trade today.
After debuting at Rs 381, a gain of 0.79 per cent compared with the issue price, the stock later succumbed to profit-booking and finally ended at Rs 360.20, down 4.7 per cent on the BSE.
During the day, the scrip touched a high of Rs 387.80 and a low of Rs 346.30.
On the NSE, shares of PNC Infratech settled 4.62 per cent lower at Rs 360.50.
In terms of volume, 10.12 lakh shares of the company changed hands on the BSE and more than 34 lakh shares were traded on the NSE during the day.

The company commands a market valuation of Rs 1,848.11 crore.

The initial public offer (IPO) of the Agra-based company was subscribed 1.54 times earlier this month.
The company's public issue comprised of up to 12,921,708 shares and were sold in a price band of Rs 355-378 per share.
The company runs projects in Rajasthan, Punjab, Haryana, Uttarakhand, Uttar Pradesh, Delhi, Bihar, West Bengal, Assam, Madhya Pradesh, Maharashtra, Karnataka and Tamil Nadu.
In the stock market, the BSE benchmark Sensex ended at 27,531.41, down 112.47 points.