PNC Meerut Haridwar Highways Pvt Ltd achieves financial closure

PNC Meerut Haridwar Highways Private Limited, wholly owned subsidiary of PNC Infratech Limited (the Company) has received communication from National Highways Authority of India on 11.03.2021 confirming the achievement of Financial Closure for the subject project on 10.02.2021, as detailed below:

The SPV is PNC Meerut Haridwar Highways Private Limited (Concessionaire) and project bid cost is Rs. 1412 crores.

The Construction Period is 730 days.

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.

Concession Period including Construction Period: 17 years

Shares of PNC Infratech Ltd was last trading in BSE at Rs.250.75 as compared to the previous close of Rs. 242.95. The total number of shares traded during the day was 39800 in over 1110 trades.

The stock hit an intraday high of Rs. 252.5 and intraday low of 242. The net turnover during the day was Rs. 9925177.

Source : Equity Bulls

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