From Mint: 2024-05-22 01:39:23

1. PNC Infratech Ltd’s share price surged by 17% to reach an all-time high of ₹535.50 on the NSE after being announced as the L1 bidder for two EPC road projects with MSRDC valued at ₹4994 crore, boosting revenue visibility.

2. The two road projects awarded to PNC Infratech are the Construction of Access Controlled Pune Ring Road and the Expressway Connector to Maharashtra Samruddhi Mahamarg, with a combined worth of ₹2508.00 crore to be completed in 30 months.

3. Analysts expect PNC Infratech’s order receipt to strengthen its pipeline, contributing to the company’s share price growth. The company has been identified as one of the top picks by Elara Securities, projecting a revenue increase of 9.5% year-on-year and 28.5% sequentially.

4. Despite a slowdown in order inflows due to the general elections, PNC Infratech’s execution has picked up in Q4, with favorable input prices expected to boost margins. The company is set to see a net profit increase of 10.9% year-on-year and 35.3% sequentially, driven by improved operating performance.



Read more at Mint: PNC Infratech share price skyrockets 17% to all time high being L1 bidder for two EPC road project worth ₹4994 Crore