PNC Infratech share price rose 4 percent in the early trade on October 16 after the company received Letters of Acceptance from Maharashtra State Road Development Corporation (MSRDC) for two EPC road projects.
At 09:19am, PNC Infratech was quoting at Rs 467.70, up Rs 21.65, or 4.85 percent, on the BSE.
The company received an order for construction of access-controlled Pune Ring Road in Pune District Package PRR E2 from Indori to Chimbali in the State of Maharashtra on Engineering, Procurement and Construction (EPC) mode for a contract value of Rs 2268 crore.
The other project is for construction of access controlled expressway connector to Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in the State of Maharashtra on EPC Mode (Length:28.895 Km) for the accepted contract amount of Rs 2362 crore.
Both the contracts are to be executed in 30 months.
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The company has incorporated a subsidiary 'PNC AAKSIIYA JOINT VENTURE' a special purpose vehicle on October 14,2024 to execute a new engineering, procurement and construction (EPC) project awarded by City & Industrial Development Corporation (CIDCO) of Maharashtra.
Last week, company received Letter of Acceptance from CIDCO for the project of Integrated Infrastructure Development of 20M & above wide roads, construction of various major & minor structures (Viz Flyover, Minor Bridges, VUPS, PUPS etc.) and Allied Electrical Works (Street Light) in TPS -8, 9 and TPS-12 under NAINA project. The contract value is Rs 2039.61 crore.
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