PNC Infratech, in a JV with SPML Infra Limited, has received Letters of Award (LOAs) for 3 new EPC Projects "Survey, Design, Preparation of DPR, Construction, Commissioning and O&M for 10 years of Rural Water Supply" for a total village of 2475 from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Department, Government of Uttar Pradesh.
The value of the order is Rs.2337 crore.
This works in favor of PNC Infratech as it has a 90% share in the JV.
Projects are to be constructed in 12 months upon signing of the agreements and operated for 10 years, post commissioning.
Though the stock opened over 1% lower at Rs.275, from there is rose to an intraday high at Rs.288.45. Its 52-week high is at Rs.395.55.