Shares of this BSE 500 infra company rally upon securing a project worth Rs 819 crore!

5paisa Research Team 29th March 2023 - 05:44 pm

The project is to be completed in 24 months and operated for 15 years, post-construction.

The shares of PNC Infratech Ltd are buzzing on the bourses today. As of 12.02 pm, the shares of the company are trading higher by 6.14%. Today, the company reported a spurt in trading volume of more than 1.9 times. Owing to this, the stock is one of the top gainers on BSE from Group A.

Meanwhile, the frontline index S&P BSE Sensex is trading flat.

Reason for the rally

Yesterday, the company reported that it has been declared the L1 (Lowest) bidder for a Highway Project in the state of Uttar Pradesh. This project shall be executed through Hybrid Annuity Mode (Package-III) from MORT&H with a bid cost of Rs 819 crore. The project is to be completed in 24 months and operated for 15 years, post-construction.

Recent performance highlights

In the recent quarter Q3FY23, on a consolidated basis, the company’s net revenue increased by 4.73% YoY to Rs 1803 crore. Similarly, the bottom line increased by 79.5% YoY to Rs 344.7 crore.

The company is currently trading at a TTM PE of 8.9x against the industry PE of 54.8x. In FY22, the company delivered an ROE & ROCE of 17.3% and 15.7%, respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 7,233.12 crore.

Share price movements

Today, the scrip of PNC Infratech Ltd opened at Rs 272.90 and has touched a high and low of Rs 286.30 and Rs 271.65, respectively. So far 1,20,185 shares have been traded on the bourses.

At 12.02 pm, the shares of PNC Infratech Ltd were trading at Rs 281.70, an increase of 6.14% from the previous day’s closing price of Rs 265.40 on BSE. The stock has a 52-week high & low of Rs 354.55 and Rs 219.35, respectively on BSE.

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5paisa Research Team

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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