PNC Infratech share price rose 8 percent in the early trade on July 24 after the company bagged two projects from the National Highways Authority of India (NHAI).
The company received Letters of Acceptance (LOA) for 2 EPC projects from NHAI for an aggregate contract value of Rs 1,547.80 crore.
The projects include the construction of eight-lane expressway starting from Bhamaiya village to Baletiya village in Gujarat's Panchmahal district section of the Delhi-Vadodara Greenfield Alignment (NH-148N).
The project would be implemented in EPC mode under Bharatmala Pariyojana in Gujarat for a contract value of Rs 758.40 crore, with a completion time of 24 months.
The second project is also an eight-lane expressway stretch of the Delhi-Vadodara Expressway from Pratap Nagar village to Dodka village in Vadodara district under Bharatmala Pariyojana.
The contract value is Rs 789.40 crore, with a completion time of 24 months.
Care Ratings has reaffirmed credit rating on the bank facilities of company's subsidiary, PNC Delhi Industrialinfra:
At 0922 hours, PNC Infratech was quoting at Rs 149.95, up Rs 10, or 7.15 percent, on the BSE.
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