PNC Infratech stock gains on bagging Rs 2,039 crore contract from CIDCO for NAINA project

PNC Infratech specialises in infrastructure development, construction, operation, and management.

Shares of PNC Infratech gained more than 2 percent on October 14 as the construction engineering company received a major order from the City & Industrial Development Corporation of Maharashtra (CIDCO).

The order is for a project worth Rs 2,039.6 crore under the Navi Mumbai Airport Influence Notified Area (NAINA) development initiative.

The project involves integrated infrastructure development of roads 20 meters wide and above, construction of various major and minor structures (flyover, minor bridges, VUPS, PUPS, etc.), and allied electrical works (street lighting) in TPS - 8, 9, and 12 under the NAINA project.

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Awarded on an Engineering, Procurement, and Construction (EPC) basis, the project will be executed within a 1,460-day timeline, inclusive of monsoon periods

Shares of PNC Infratech closed half a percent lower at Rs 440.90 on the National Stock Exchange (NSE) in the previous session. The stock has risen around 26 percent so far this year, outperforming Nifty's returns of 14 percent.

In the last one year, the counter has risen around 20 percent compared to Nifty's gain of 26 percent during this period.

PNC Infratech Limited (PNCIL) specialises in infrastructure development, construction, operation, and management. The firm undertakes diverse projects, including highways, bridges, flyovers, airport runways, power transmission lines, water supply systems, and industrial area development.

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