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Home INTERNATIONAL PNC Infratech jumps 16% on receipt of LOA for HAM venture of...

PNC Infratech jumps 16% on receipt of LOA for HAM venture of Rs 1,412 cr

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Shares of PNC Infratech rallied as a great deal as 16.5 for each cent to Rs 155 apiece on the BSE on Friday following the company declared it has acquired Letter of Award (LOA) from Countrywide Highways Authority of India (NHAI) for HAM Challenge of Rs 1,412 crore.&#13
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At 09:27 am, the stock was trading around 7.5 for each cet greater at Rs 143 on the BSE. In comparison, the S&P BSE Sensex was ruling .78 for every cent larger at 35,115.30 stages.&#13
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PNC Infratech’s shares had a strike a 52-week high of Rs 219.40 on July 3, 2019 whilst its all-time high stage stands at Rs 228, touched on December 26, 2017.&#13
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“PNC Infratech Confined announces receipt Letter of Award (LOA) on June 24, 2020 for a NHAI Challenge of 53.95 km prolonged Four-laning of Meerut-Nazibabad portion of NH-119 (New NH-34) from layout chainage Km 11+500 (Meerut) to 39.250 (Behsuma) and from km 79.500 (Bijnor) to 105.700 (Jalalabad), in the point out of Uttar Pradesh beneath Bharatmala Pariyojana on Hybrid Annuity Manner (HAM) for Rs 1,412. crore,” the corporation explained in an exchange filing.&#13
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The price bids ended up opened on Wednesday, May perhaps 13, 2020, with PNC’s bid staying the lowest (L1), the filing added.&#13
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The organization additional knowledgeable that the challenge is to be made in 24 months and operated for 15 a long time submit building. This is the eleventh hybrid annuity highway undertaking secured by the firm so significantly.&#13
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For the quarter ended March 2020, PNC Infratech posted a 45.63 per cent decline in its standalone net profit at Rs 76.08 crore. The firm had logged a profit of Rs 139.93 crore in the year-back period of time. Sales rose 7.65 for every cent to Rs 1,157.95 crore. For the fiscal year ended March 2020, net profit rose 41.67 for each cent to Rs 460.30 crore. &#13

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