PNC Infratech Received LOA from NHAI for HAM Project of Rs. 1412 crore

PNC Infratech Limited announces receipt Letter of Award (LOA) on June 24, 2020 for a NHAI Project of 53.95 km long Four-laning of Meerut - Nazibabad section of NH-119 (New NH-34) from design chainage Km 11+500 (Meerut) to 39.250 (Behsuma) and from km 79.500 (Bijnor) to 105.700 (Jalalabad), in the state of Uttar Pradesh under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM) for Rs. 1412.0 crore. The price bids were opened on Wednesday, May 13, 2020, with PNC's bid being the lowest (L1).

The project is to be constructed in 24 months and operated for 15 years post construction. This is the eleventh hybrid annuity highway project secured by the company so far.

Shares of PNC Infratech Ltd was last trading in BSE at Rs.131.5 as compared to the previous close of Rs. 135.2. The total number of shares traded during the day was 9086 in over 442 trades.

The stock hit an intraday high of Rs. 138.5 and intraday low of 129.05. The net turnover during the day was Rs. 1221789.

Source : Equity Bulls

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