PNC Infratech has emerged as the lowest bidder for a six laning project in Karnataka.
The company has issued a Press Release stating that it has been declared the L1 (lowest) bidder for project of six laning Chitradurga - Davanagere including Chitradurga bypass, design chainage km 0.000 to km 20.700 and Km 208.000 to km 260.000 of NH 48 (Old NH-4) in the state of Karnataka under NHDP V on Hybrid Annuity Model.
The project cost of this laning is estimated at Rs.1434 crore. Four companies participated in the bidding and the price bids were opened on 6th March’17.
This is the second hybrid annuity project won by PNC having construction period of 2 years and operation period of 15 years.
With a 3.5 times rise in volumes, the stock price which had closed yesterday at Rs.100.70, went up to an intra day high at Rs.107.80. Its 52-week high and low stands at Rs.134.90 and Rs.95.90 respectively.