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PNC Infratech jumps 9% after bagging two EPC projects worth Rs 1,548 crore

The bids for these contracts were submitted in January this year and opened in March.

Broader market outperforms in May for the first time since January

PNC Infratech said that the company received LOA (letter of award) from NHAI (National Highways Authority of India) for two EPC projects of Delhi - Vadodara alignment of the 8-lane access controlled greenfield expressway for an aggregate contract val

SI Reporter New Delhi
Shares of PNC Infratech surged nearly 9 per cent on the BSE on Friday after the company announced it has bagged two highway construction contracts worth over Rs 1,500 crore, after the Union government cancelled the lowest bid submitted by the Chinese company, Jiangxi Construction.

At 09:25 am, the stock was trading 6.57 per cent higher at Rs 149 on the BSE. It hit a high of Rs 152.35 in the opening deals against Thursday's close of Rs 139.95. In comparison, the benchmark S&P BSE Sensex was trading around 0.6 per cent lower at 37,925 levels. 

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First Published: Jul 24 2020 | 9:42 AM IST

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