India's PNC Infratech rises after emerging as lowest bidder for $141 mln project

PNC Infratech

19/12/2023 06:21

** Shares of PNC Infratech  PNCI.NS  rise as much as 6.1%,
biggest intraday pct gain since July 20 
    ** Infra company declared lowest bidder for 11.74 bln rupees
($141.15 mln) highway project
    ** Stock sees most active day since Aug. 14, trading volumes
at 3x the 30-day avg, as of 11:30 a.m. IST
    ** Stock posted five straight weeks of gains until Friday
        ** PNCI, however, eyes losses for this quarter
    ** Average rating of 16 analysts covering the stock is
"strong buy," their media PT is 432 rupees - ~20% more than the
current price
    ** Stock last up 2%, taking YTD gains to ~21% 


($1 = 83.1750 Indian rupees)

 (Reporitng by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))