India's PNC Infratech rises on about $243 mln contract win

PNC Infratech

14/10/2024 05:09

** Shares of PNC Infratech Ltd  PNCI.NS  rise as much as 4%
to 458 rupees
    ** Construction co receives letter of acceptance for project
at contract value of 20.4 bln rupees ($242.7 mln)
    ** Contract from the City & Industrial Development
Corporation of Maharashtra (CIDCO) includes development of roads
and electrical works
    ** Stock on track to snap 2 months of losses; gained 2.3% so
far this month 
    ** More than 917,000 shares traded as of 9:31 a.m. IST, vs
30-day moving avg of 525,564 shares
    ** Mean rating of 15 analysts rating the stock is 'buy';
their median PT is 563 rupees - LSEG data
    ** PNCI last up 3.2%, adding to YTD gains of 29.3% so far

($1 = 84.0610 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))