Moneycontrol
Last Updated : May 15, 2018 01:52 PM IST | Source: Moneycontrol.com

PNC Infratech gains 4% on getting Rs 34cr bonus for early completion of project

The company has received Rs 33.73 crore from National Highways Authority of India (NHAI) for early completion of a highway stretch in Uttar Pradesh.

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Shares of PNC Infratech added 4 percent intraday Tuesday as company received Rs 34 crore bonus for early completion of highway project.

The company has received Rs 33.73 crore from National Highways Authority of India (NHAI) for early completion of a highway stretch in Uttar Pradesh.

PNC Raebareli Highways received the amount as bonus for early completion of two-laning of 166.44 km Raebareli-Jaunpur section of NH-231, PNC Infratech MD Yogesh Jain said in a statement.

This is the second bonus for the company in last three months.

"The scheduled date to complete the project was June 2, 2016, but we completed it on February 27, 2016," Jain added.

At 13:30 hrs PNC Infratech was quoting at Rs 173.90, up Rs 3.10, or 1.81 percent on the BSE.

With inputs from PTI
First Published on May 15, 2018 01:51 pm
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