India's PNC Infratech hits 20-mth high on signing project agreements with NHAI

PNC Infratech

20/07/2023 05:42

** Shares of infrastructure construction company PNC
Infratech  PNCI.NS  rise as much as 7.4% to 368.55 rupees,
marking sharpest intraday pct gain since July 6
    ** Stock hits highest level since Oct. 21, 2021
    ** PNCI on Wednesday signed concession agreements for 3 HAM
projects with National Highways Authority of India (NHAI), for
bid project cost of 32.64 billion rupees  urn:newsml:reuters.com:*:nFWN39512P
    ** More than 1.2 mln shares change hands by 09:52 a.m. IST,
2.1x the 30-day avg
    ** Analysts covering the stock on an average have a "strong
buy" rating; median PT is 410 rupees - Refinitiv data
    ** Stock up 19.1% this year, as of last close

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))