India's PNC Infratech slumps on road transport ministry ban

PNC Infratech

21/10/2024 10:38

** Shares of PNC Infratech  PNCI.NS  fall an
exchange-allowed maximum of 20% to 366.80 rupees, hitting their
lowest level since Jan. 10
    ** PNCI says Indian road and transport ministry has barred
co from participating in any tender process of the ministry for
one year
    ** Action comes after India's crime-fighting agency (CBI)
filed a charge sheet against co earlier this year 
    ** Stock set for its worst day since March 2020
    ** Nearly 5 mln shares traded, 6.5x their 30-day avg 

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