PNC Infratech’s stock rose by about 10 per cent on Monday after regulatory relief from the Ministry of Road Transport and Highways. Before closing at Rs 300, this stock reached Rs 324 in day trading.
The ministry, in the order of 6 February, reduced the period of ban on PNC Infratech and its two special objectives (SPVs) from one year to four months.
According to the revised order, the restriction period will now end on February 17, which will be subject to completing certain procedures with the National Highways Authority of India (NHAI) by PNC Infratech. When these procedures are completed, PNC Infratech will be able to start its new projects rapidly in the infrastructure sector.
As of September 30, 2024, the order book value of PNC Infratech was around Rs 20,000 crore. This includes various under construction engineering, procurement and construction (EPC) projects. These projects along with the Ministry of Road Transport and Highways with Prayagraj-Koshambi Project, Jalna-Nanded and Pune Ring Road Projects with Maharashtra State Road Development Corporation and Akkalkot Package-2 (Baddal-Maradgi S), Sonali-Gorakhpur and with NHAI Kanpur-Lucknow Expressway Package-2 includes.
First Published – February 10, 2025 | 10:05 pm IST
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(Tagstotranslate) PNC Infratech (T) Stock surge (T) Ministry of Road Transport (T) Regulatory relife