PNC Infratech Ltd receives LoA from CIDCO

PNC Infratech Ltd has received Letter of Acceptance dated 10.10.2024 from City & Industrial Developrnent Corporation of Maharashtra Ltd. (CIDCO) for the project namely "Integrated Infrastructure Development of 20M & above wide Roads, Construction of Various Major & Minor Structures (Viz Flyover, Minor Bridges, VUPS, PUPS etc.) and Allied Electrical Works (Street Light) in TPS-8, 9 and TPS-12 under NAINA Project" on 11.10.2024.

The Engineering, Procurement and Construction (EPC) on Item rate percentage awarded to the PNC Infratech Ltd. ("our Company") in jointly with the Company namely AAKSHYA INFRA PROJECTS PRIVATE LIMITED.

The accepted Contract Amount of INII 2039.61 crore (Rupees Two Thousand Thirty-Nine Crore and Sixty-One Lakhs only) exclusive of GST. It is pertinent to mention that after conducting negotiation on the quoted price of INR 2090.59 Crore of the Company (L1 Bidder), the bid was accepted for above mentioned reduced/negotiated contract price of INR 2039.61 crore.

Shares of PNC Infratech Limited was last trading in BSE at Rs. 440.60 as compared to the previous close of Rs. 442.95. The total number of shares traded during the day was 9477 in over 582 trades.

The stock hit an intraday high of Rs. 445.00 and intraday low of 439.00. The net turnover during the day was Rs. 4188601.00.

Source : Equity Bulls

Keywords

PNCInfratech INE195J01029 LOA CIDCO