India's PNC Infratech jumps as court stays National Highways' debarment orders
BUZZ-India's PNC Infratech jumps as court stays National Highways' debarment orders ** Infrastructure firm PNC Infratech's shares PNCI.NS rise as much as 6.64% to a one-month high of 165.76 rupees apiece
** Rise after Delhi High Court grants stay on National Highways Authority of India's debarment orders dated September 3 and September 11 issued against PNCI
** Last month, the NHAI had extended the debarment of PNCI's unit Awadh Expressway for three years, implying that it will not be able to participate in any bid of the road transport ministry and NHAI
** Move eases near-term exclusion risk for PNCI
** Average rating of 15 analysts tracking PNCI is "buy"; median price target is 270.50 rupees, according to data compiled by LSEG
** PNCI shares are down about 35% in 2026 so far, exchange data shows
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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