India's PNC Infratech plunges to near two-year low after unit barred from govt projects
15/09/2026 07:01
BUZZ-India's PNC Infratech plunges to near two-year low after unit barred from govt projects ** Shares of India's PNC Infratech PNCI.NS sink 20% to 140.32 rupees, their lowest level since October 21, 2024
** Construction and engineering co received letter from NHAI (National Highway Authority of India) debarring subsidiary Awadh Expressway for three years
** Debarment bars co from bidding for any new projects of NHAI or Ministry of road transport and highways
* Co says development will not impact status as a going
concern and/or the execution, operathantion, and maintenance of its ongoing projects
** About 4.5 million shares traded, 6.9x their 30-day moving average
** Stock down 44.25% YTD
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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