PNC Infratech Ltd. surged as much as 2.35 percent to Rs 569.5 per share, after it won a Rs 232.91 crore project from the public works department in the state of Uttar Pradesh.
The order is for four-laning the road that connects Etah and Kasganj in Uttar Pradesh, according to the company's press release. The order book now stands at Rs 5,400 crore, PNC Infratech added.
This is the third such project the company has bagged in this financial year. Other projects include:
- A state road project and an airport runway project, with combined order size of Rs 260 crore.
- A highway project in Rajasthan to be built at a total cost of Rs 881 crore. Since it's a hybrid annuity model, the government will contribute 40 percent of the total cost.
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