India's PNC Infratech continues rally on $141 mln road contract win

PNC Infratech

17/01/2024 04:41

** Shares of PNC Infratech  PNCI.NS  up 2% at 413.20 rupees
    ** PNC awarded 11.74 bln rupees ($141 mln) project to build
a 4-lane bypass in Madhya Pradesh state
    ** Stock on track for a seventh session of gains in a row,
incl on plans to sell stake in 12 SPVs
    ** More than 1.3 mln shares traded, higher than 30-day avg
but tracking in-line with vol jump in last six sessions
    ** Average rating of 14 analysts tracking the stock is
"buy", median PT is 432 rupees - LSEG data
 
 ($1 = 83.1325 Indian rupees)

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