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PNC Infratech advances after CARE reaffirms rating on subsidiary

Capital Market 

PNC Infratech rose 2.46% to Rs 199.60 at 12:13 IST on BSE after CARE reaffirmed its credit rating on bank facilities of the company's subsidiary.

The announcement was made during market hours today, 20 June 2019.

Meanwhile, S&P BSE Sensex was up 161.31 points or 0.41% at 39,274.05.

On BSE, 7958 shares were traded in PNC Infratech counter, compared to a 2-week average of 12,000 shares. The share price hit an intraday high of Rs 201.45 and an intraday low of Rs 187.05. It hit a 52-week high of Rs 210.55 on 13 June 2019 and a 52-week low of Rs 122.70 on 01 October 2018.

Credit Analysis & Research (CARE) has reaffirmed credit rating on the bank facilities of PNC Infratech's subsidiary, PNC Bundelkhand Highways.

The rating of the long-term bank facilities of Rs 604 crore has been reaffirmed CARE A- with stable outlook.

PNC Infratech's net profit rose 25.5% to Rs 139.93 crore on a 41.7% rise in net sales to Rs 1,075.71 crore in Q4 March 2019 over Q4 March 2018.

PNC Infratech is an infrastructure development, construction and management company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 20 2019. 12:18 IST