Shares of PNC Infratech surged 2% on Wednesday in early morning trading after the company won a huge highway and bridge construction project worth Rs 380 crore in Uttar Pradesh and Bihar on August 27.
In the exchange filing, the company shared, “Our Company has been declared Ll (First Lowest) bidder in a highway cum bridge project namely Construction of additional 3-Lane Bridge over River Canga for connection between Buxar and Bharauli on NH-922 in the State of Uttar Pradesh and Bihar on Hybrid Annuity Mode (HAN) on 27 .08.2024 for a Bid Project Cost of Rs. 380.0 crore (Rupees Three Hundred Eighty Crore).”
The construction of the bridge and any associated highway infrastructure is included in the scope. The deal stipulates a 910-day construction period, followed by a 15-year operation.
As of 9:27 am, PNC Infratech shares were trading 1.34% higher at Rs 464.65 on the NSE.
