PNC Infratech signs concession agreement for a HAM project with NHAI on 31 August 2020

PNC Infratech Limited informs signing of concession agreement for the following national highway project with National Highways Authority of India (NHAI) on 31 August 2020:

Four-laning of Meerut - Nazibabad section of NH-119 (New NH-34) from design chainage Km 11+500 (Meerut) to 39.250 (Behsuma) and from km 79.500 (Bijnor) to 105.700 (Jalalabad), in the state of Uttar Pradesh under Bharatmala Pariyojna on Hybrid Annuity Mode (HAM) - Rs. 1412.0 crore (Bid Project Cost).

In the current financial year, the Company has executed concession agreements for four (4) national highway projects including the above project, to be executed on HAM model with NHAI for an aggregate Bid Project Cost of Rs. 6596.0 crore. The Company has also executed agreements for two national highway projects on EPC mode with NHAI for a total contract value of Rs. 1547.8 crore, in the current financial year.

Shares of PNC Infratech Ltd was last trading in BSE at Rs.168.8 as compared to the previous close of Rs. 169.45. The total number of shares traded during the day was 120116 in over 4316 trades.

The stock hit an intraday high of Rs. 177.75 and intraday low of 167. The net turnover during the day was Rs. 20868806.

Source : Equity Bulls

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