Shares of PNC Infratech are likely to remain in focus on Wednesday as the company announced that it has received two letters of acceptance (LoAs) from Maharashtra State Road Development Corporation (MSRDC) amounting to a total of Rs 4,630.
“We are pleased to inform you that our Company has received Letters of Acceptance dated 14.10.2024 from Maharashtra State Road Development Corporation (MSRDC) for trvo (2) EPC Road Projects via mail dated 15.10.2024,” the company said in a filing to the exchanges.
Both projects are expected to be completed within 30 months.
The first project is worth Rs 2,268 crore, which involves the construction of access-controlled Pune ring road in Pune District Package PRR E2 from Indori Km 12+500 To Chimbali Km 26+300
The length of the road is estimated to be 13.800 km.The second project, worth Rs 2,362 crore, involves the construction of access controlled expressway connector to Hindu Hrudaysamrat Balasaheb Thackeray from Jalna to Nanded on EPC Mode for Package JNE-04 from Km 98+945 Kumbhari Tq. Jintur to Km 127+840 Katneshwar Tq. Purna District Parbhani.The length of the road is estimated to be 28.895 km.
Also read: Stock to Watch: BEML shares in spotlight after winning contract to make India’s 1st bullet rail
The shares of PNC Infratech have gained 21.2% in the last one year while increasing by 27.6% in the current calendar year. However, the stock has dipped by 15.74% in the last 3 months, according to the BSE analytics.
The shares of PNC Infratech closed 1.12% lower at Rs 446.05 on BSE on Tuesday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)