India's PNC Infratech set to snap 4-day losing run on settlement payment

KNR Constructions

16/04/2024 07:58

** Shares of PNC Infratech  PNCI.NS  up 2%, on pace to snap
a four-day losing run
    ** PNC gets 1.15 bln rupees ($13.8 mln) as part of a
contract dispute settlement between its unit and National
Highways Authority of India
    ** Stock had lost ~6.5% over past four days, but is still up
26% YTD, incl session's gains
    ** YTD, its peers KNR Constructions  KNRL.NS  and J Kumar
Infraprojects  JKIP.NS  have risen 1.7% and 6%, respectively
    ** Analysts avg rating on PNCI is "buy" - LSEG data

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))