2024-01-19 05:46:00
PNC Infratech Ltd has announced that it has bagged an order from the Madhya Pradesh Road Development Corporation (MPRDC). The West Bhopal Bypass is constructed with 4-lane pavement shoulders, with a service road starting at Jabalpur-Bhopal Road (NH-46) and ending at Bhopal-Dewas Road (SH-28) along the design length. 40.90 km in the state of Madhya Pradesh under Hybrid Annuity Mode (HAM). The order, worth Rs 1,174 crore, will be constructed within 24 months and will have a post-construction period of 15 years.
PNC Infratech and its subsidiary sold 12 road projects in four states to the Highways Infrastructure Trust for Rs 9,005.7 crore, freeing up capital to pursue the Indian government’s ambitious infrastructure goals. This financially significant deal marks PNC’s shift towards new growth opportunities in the road sector.
PNC Infratech Ltd. is one of the leading end-to-end infrastructure projects including highways, bridges, flyovers, power transmission lines and towers, airport runways, industrial area development and other infrastructure activities. The company has a market capitalization of over Rs.10,000 crore. As on September 30, 2023, the company has a strong order book of Rs 17,800 crore (including contracts worth Rs 4,412 crore which have not yet been added to the order book). In December 2023, FIIs increased their stake from 10.78 percent to 10.98 percent. While equities were down in yesterday’s trade, shares of PNC Infratech rose 0.21 percent to Rs 414.30, touching a 52-week high of Rs 420.85 and a 52-week low of Rs 261.25. The company’s stock has returned more than 120 percent of the multipack in three years. Investors should keep an eye on this mid-cap civil construction stock, say market experts.
(Disclaimer : The article is for informational purposes only and is not investment advice.)
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