 "Online trading, Trading")
Shares of PNC Infratech Ltd. advanced over 6 per cent on Monday after it received an arbitration award worth ₹485 crore pertaining to an engineering, procurement and construction (EPC) project.
PNC Infratech’s stock rose as much as 6.62 per cent during the day to ₹298.7 per share, the highest level since February 11 this year. The stock pared gains to trade 5.7 per cent higher at ₹296 apiece, compared to a 0.04 per cent advance in Nifty 50 as of 9:38 AM.
Shares of the company extended gains to their third day and have recovered over 20 per cent from their lows of ₹240 earlier this month. The stock has fallen 15 per cent this year, compared to a 5.7 per cent fall in the benchmark Nifty 50. PNC Infratech has a total market capitalisation of ₹7,387.05 crore.
PNC Infratech arbitration award
The company informed that an arbitration award was issued in favour regarding the construction of balance work of the new four-lane Agra Bypass connecting Km 176.80 of NH-2 to Km 13.03 of NH-3 in the state of Uttar Pradesh.
Also Read
 "Delhivery")
 "RITES new logo")
 "The number of active investors on the National Stock Exchange (NSE) have jumped 44 per cent over the past one year to 47.9 million at the end of September 2024. The surge in active clients is underpinned by the rally in the markets, with the Nifty 50")
 "Stock Market, BSE, NSE, Nifty, Capital")
 "Stock Market, Market, Crash, Funds, up, Stock, Lost, decline, statistic, Crisis, Capital, BSE, NSE")
Certain disputes arose with the National Highways Authority of India (NHAI) during the execution of the project, it said in an exchange filing. Accordingly, upon invocation of the arbitration clause in the contract agreement, an Arbitral Tribunal was constituted in June 2019 to adjudicate the disputes.
The company submitted its claims against NHAI for a total amount of ₹661.51 crores, which included interest calculated up to 24 August 2024. The Authority (NHAI) also filed its counterclaims for an amount of ₹38.52 crores, along with interest.
Any financial implication will only be known after realisation of the awarded amount, the statement said.
About PNC Infratech
PNC Infratech is an infrastructure development and construction company in India, established in 1999 and headquartered in Agra, Uttar Pradesh. The company specialises in executing large-scale projects across highways, bridges, airports, power transmission, water supply, and urban infrastructure. Known for its strong execution capabilities, PNC Infratech has delivered several landmark projects, including sections of the Yamuna Expressway, Purvanchal Expressway, and airport runway expansions at Varanasi and Allahabad.
The company undertakes Build-Operate-Transfer (BOT) and Hybrid Annuity Model (HAM) projects, ensuring a diversified portfolio that spans road construction, urban development, and water management under initiatives like the Jal Jeevan Mission. With a robust order book driven by contracts from agencies like NHAI and state governments, PNC Infratech is a key contributor to India’s infrastructure growth.
ALSO READ: Delhivery jumps 7% post Q4; achieves first full year of PAT profitability "stock market trading")
 "Stock Market, BSE, Nifty, Capital")
 "Crypto tax, tax, bitcoin")
 "bull market, stock market")
 "image")
