PNC Infratech share price, which hit a 52-week high in the previous session, rose more than a percent in the early trade on January 17 after the company said it won a Rs 1,174 crore road project in Madhya Pradesh.
At 9.28 am, PNC Infratech was quoting at Rs 412.95, up Rs 6.70, or 1.65 percent, on the BSE.
The company will construct 41-km four-lane Western Bhopal Bypass along with a service road in the Madhya Pradesh in the Hybrid Annuity Mode (HAM). The work has to be done is 24 months, while the operation period is 15 years after the construction.
In December, the company had emerged as the lowest bidder for a project in Madhya Pradesh.
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The company has executed definitive agreements with KKR-backed Highways Infrastructure Trust (HIT), to divest 12 of its road assets, comprising 11 National Highway (NH) Hybrid Annuity mode (HAM) assets and 1 State Highway BOT Toll asset, for an enterprise value of Rs 9,005.7 crore.
The share touched a 52-week high of Rs 420.85 on January 16, 2024 and a 52-week low of Rs 261.25 on March 27, 2023. The stock is trading 1.88 percent below its 52-week high and 58.07 percent above its 52-week low.
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