PNC Infratech Shares Surge on Major Project Wins and Strategic Acquisition

ch Ltd., a leading infrastructure development company, saw its share price climb 2.65% to ₹315.15 on the BSE, driven by a series of positive developments, including a ₹495.54 crore project win in Bihar and strategic expansion moves. The stock's rally reflects growing investor confidence in the company's robust project pipeline and operational capabilities. ₹495 Crore Bihar Project Boosts Sentiment PNC Infratech announced that it has received a Letter of Acceptance (LoA) from the Bihar State Road Development Corporation (BSRDC) for a ₹495.54 crore project. The contract involves the construction of a high-level bridge and a 21.3 km approach road on the Hathouri-Atrar-Bavangama-Aurai Road in Bihar. Awarded under the Engineering, Procurement, and Construction (EPC) mode, the project is slated for completion within 1,095 days (three years). This significant win strengthens PNC Infratech’s order book and underscores its expertise in delivering complex infrastructure projects. Strategic Acquisition of Jaiprakash Associates Earlier this month, the Competition Commission of India (CCI) approved PNC Infratech’s proposed acquisition of Jaiprakash Associates, a company currently undergoing corporate insolvency resolution under the Insolvency and Bankruptcy Code. This acquisition marks a strategic move for PNC Infratech to diversify its portfolio beyond roads and highways, potentially tapping into Jaiprakash Associates’ operations in cement and power. The deal is expected to enhance PNC’s market presence and operational synergies.