PNCINFRA

Infra shares rise over 7% after MoRTH, NHAI reduce disqualification period

Infra and two of its subsidiaries have received relief from Ministry of Road Transport and Highways (MoRTH) regarding participating in tender process, with the Ministry significantly reducing the period of disqualification, the company informed stock exchanges on February 10. Shares of PNC Infra were higher by more than 7% in early following the ***** order on PNC Infra dated February 6, 2025 conveyed the reduction in the period of disqualification (debarment) from one year to four months from the date of original debarment order dated October 18, 2024, subject to NHAI procedures. The reduced curb on bidding implies the order by MoRTH ends in February 2025, four months after the order was passed. MoRTH had disqualified the company and two of its subsidiaries from participating in tender process of the Ministry for a period of one year with effect from October 18, 2024, a decision which was later challenged by the company. The Delhi High Court had subsequently dismissed by the order on October 29, 2024, and PNC Infra submitted a representation to the MoRTH on November 21, 2024 seeking revocation of the disqualification order.