Shares of PNC Infratech Ltd soared 3% higher on 23 April after the company was declared the L1 (Lowest Bidder) for the building of a flyover in Rajasthan at a quoted price of Rs. 239.94 crore.

According to an exchange filing, the project calls for the construction of a flyover from Heeradas Chouraha to Kumher Gate Chouraha in Bharatpur City, Bharatpur, on an EPC (engineering, procurement and construction) basis.

The project, scheduled to be completed in 24 months, aims to increase connectivity in the Bharatpur region.

The company is engaged in India’s infrastructure development by constructing highways, including BOT (built, operated, and transferred) and HAM (Hybrid Annuity Model) projects, airport runways, bridges, flyovers, and power transmission facilities.

At 1:02 pm, the shares of PNC Infratech were trading 0.21% higher at Rs 279.20 on NSE.

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