PNC Infratech shares hit all-time high on bagging mega road projects

PNC Infratech Ltd’s share price surged 11% in intraday trading on Wednesday, scaling an all-time high of ₹512 on the National Stock Exchange (NSE). The sharp rally was fueled by improved revenue visibility as the company announced emerging as the lowest bidder (L1) for two Engineering, Procurement, and Construction (EPC) road projects awarded by the Maharashtra State Road Development Corporation (MSRDC), with an aggregate quoted price of Rs. 4994 crore.

The first project where PNC Infratech secured the L1 bidder status is for the construction of an Access Controlled Pune Ring Road in Pune District. The Package PRR E2 from Indori to Chirnbali in the state of Maharashtra is valued at ₹2486.00 crore, and PNC Infratech is expected to complete the project within 30 months.

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As of 11:25 am, PNC Infratech’s shares were trading 11.17% higher at ₹509.00 on the NSE.

The company’s success in bagging these prestigious road projects has boosted investor confidence, leading to the surge in its share price to unprecedented levels. PNC Infratech’s strong execution capabilities and proven track record in the infrastructure sector have positioned it as a preferred choice for such high-value projects.