PNC Meerut Haridwar Highways Private Limited submits financing documents to NHAI

PNC Meerut Haridwar Highways Private Limited, wholly owned subsidiary of PNC Infratech Limited (the Company) has submitted duly executed Financing Documents to NHAI for the project "53.95 km long Four-laning of Meerut - Nazibabad section of NH-119 (New NH-34) in the state of Uttar Pradesh under Bharatmala Pariyojana".

The bid project cost is Rs. 1412 crores.

The construction period is 730 days and concession period is 17 years.

Axis Bank Limited has sanctioned debt of Rs. 514 crores for the project.

Shares of PNC Infratech Ltd was last trading in BSE at Rs.277.9 as compared to the previous close of Rs. 285. The total number of shares traded during the day was 95530 in over 3936 trades.

The stock hit an intraday high of Rs. 289.25 and intraday low of 272. The net turnover during the day was Rs. 26598172.

Source : Equity Bulls

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