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PNC Infratech Ltd has surged 9 per cent to Rs 284 on the BSE in intra-day trade on Wednesday, gaining 15 per cent in the past two days, amid heavy volumes after the company said it has a strong order book of over Rs 11,600 crore. The stock of the roads and highways construction company was quoting close to its record high level of Rs 291 touched on February 11, 2021.
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In the morning, PNC Infratech stock was up 7 per cent at Rs 278, as compared to a 0.52 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled, with a combined 3.3 million shares have changed hands on the NSE and BSE so far.
“As of March 31, 2021, the remaining value of contracts under execution of Rs 11,648 crore. After considering the two engineerings, procurement, and construction (EPC) road projects, seven EPC water projects, the order book is over Rs 16,600 crore,” PNC Infra said in an investor presentation.
The road EPC projects constitute 89 per cent of PNC Infra’s order book. After considering the EPC value of the above projects, contracts under execution are over Rs 16,600 crore, which is over 3 times FY21 revenue, the company said.
Stock Covered in the news
