India's PNC Infratech up 5% after winning $94 mln contract

PNC Infratech

08/05/2023 06:00

** Shares of PNC Infratech Ltd  PNCI.NS  rise 5.25% to 320
rupees, their highest in over 10 weeks
    ** Construction company signs contract agreement with
Haryana Orbital Rail Corporation for an engineering, procurement
and construction (EPC) project of 7.71 bln rupees ($94.4 mln)   
    ** Project pertains to the design and construction of civil
works for Indian Railways network in Gurgaon
    ** Trading volume is 629,454 shares as of 10:17 a.m. IST,
0.8x the 30-day avg of 747,316 shares - Refinitiv data
    ** All of the 16 analysts tracking PNCI have "buy" rating;
median TP is 403.50 rupees - Refinitiv IBES data


($1 = 81.7210 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))