This small-cap construction company emerged as L1 bidder for highway project in Bihar
Shares of the company surged more than 2% today post the annnouncement.
About the Project
PNC Infratech has been declared the L1 (Lowest) bidder for a Highway Project namely 'Construction of 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Pachmon village to Anarbansalea village (from km 116+000 to km 151+200; Length = 35.2 km), 'Package 6' under Bharatmala Pariyojana in the state of Bihar on Hybrid Annuity Mode' from NHAI with a Bid Project Cost of Rs 1260 crore, on March 14, 2023. Price bids were opened on Tuesday, March 14, 2023, with PNC’s bid being the lowest (L1) (L1). It is to be completed in 24 months and operated for 15 years, after construction.
Share Price Details of PNC Infratech Ltd.
Scrip opened today at Rs 299.90 and touched its day high at Rs 299.90 after the surge. Its 52-week high stood at Rs 354.55 whereas its 52-week low was Rs 219.35. Promoters hold 56.07 per cent, whereas institutional and non-institutional holdings are 38.90 per cent and 5.04 per cent, respectively. Presently, the market cap of the company is Rs 7,456.31 crore.
PNC Infratech Ltd. is one of the leading Indian infrastructure construction, development, and management firms in the nation. The company has extensive experience and demonstrated expertise in the execution of major infrastructure projects, including the construction of highways, bridges, flyovers, power transmission lines, airport runways, industrial area development, and other infrastructure activities.
The business offers complete infrastructure implementation services, including engineering, procurement, and construction (EPC) services, both on an item rate basis and on a fixed-sum turnkey basis. The firm also manages and implements projects following various PPP formats, such as Operate-Maintain-Transfer (OMT), Design-Build-Finance-Operate-Transfer (DBFOT), and others. It is one of the very few infrastructure enterprises in the country that have demonstrated investment, development, building and management skills.
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