PNC Infratech Ltd Share Price – NSE  / BSE

Infrastructure Developers & Operators, Small Cap

The scope of the project entails construction of additional 3-lane bridge over river Ganga for connection between Buxar and Bharauli on NH-922 in the state of Uttar Pradesh and Bihar on hybrid annuity mode (HAM).

The bid project cost stood at Rs 380 crore. The project is to be constructed in 910 days while the operation period is 15 years post construction.

PNC Infratech (PNCIL) is engaged in India's infrastructure development through the construction of highways including BOT (built, operate and transfer projects), airport runways, bridges, flyovers and power transmission projects among others. The Company provides end-to-end infrastructure implementation solutions, including EPC services on a fixed-sum turnkey basis.

The company’s consolidated net profit zoomed to Rs 575.17 crore in Q1 FY25 as against Rs 180.62 crore reported in Q1 FY24. Net sales was at Rs 2167.51 crore in the June quarter, up 3.6% from Rs 2091.70 crore posted in Q1 FY24.

Shares of PNC Infratech rose 0.68% to Rs 461.45 on the BSE.

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The key equity indices traded with minor gains in early trade. The Nifty traded above the 25,000 level. Media, healthcare and auto shares advanced while Private bank, bank and financial services stocks declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex was up 45.27 points or 0.06% to 81,758.93. The Nifty 50 index added 10.50 points or 0.04% to 25,028.25.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.24% and the S&P BSE Small-Cap index gained 0.55%.

The market breadth was strong. On the BSE, 2,047 shares rose and 924 shares fell. A total of 130 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,503.76 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 604.08 crore in the Indian equity market on 27 August 2024, provisional data showed.

Stocks in Spotlight:

PNC Infratech added 1.35% after the company has declared lowest bidder for a highway project worth Rs 380 crore in Uttar Pradesh and Bihar.

NBCC (India) jumped 7.01% after the company informed that its’s board will consider a proposal for bonus issue on 31 August 2024.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 1.65% to 6.974 as compared with previous close 6.975.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.9525, compared with its close of 83.9325 during the previous trading session.

MCX Gold futures for 5 September 2024 settlement fell 0.05% to Rs 71,512.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.18% to 100.74.

The United States 10-year bond yield declined 0.21% to 3.827.

In the commodities market, Brent crude for October 2024 settlement gained 12 cents or 0.15% to $79.67 a barrel.

Global Markets:

Most Asian stocks declined on Wednesday, with technology-heavy indexes retreating ahead of Nvidia's earnings report. Persistent concerns over China's trade tensions with Canada also weighed on investor sentiment.

While Wall Street's major indices reached new highs, the Nasdaq Composite lagged, reflecting cautiousness about Nvidia's earnings. Anticipation of lower interest rates led to a shift away from technology stocks and toward more economically sensitive sectors. The Dow Jones Industrial Average rose 0.02%, the S&P 500 gained 0.16%, and the Nasdaq Composite climbed 0.17%.

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Securities in F&O ban: Hindustan Copper, Balrampur Chini Mills, Birlasoft, India Cements

New Listing:

Orient Technologies will debut on stock exchanges today. The IPO price band is fixed at Rs 195 to 206 per share. The IPO was open between 21st August and 23rd August 2024. It was subscribed 151.71 times.

Stocks to watch:

PNC Infratech was declared the lowest bidder for a highway project worth Rs 380 crore in Uttar Pradesh and Bihar.

Aditya Birla Capital has made an investment of Rs 300 crore on right basis, in the equity shares of Aditya Birla Housing Finance.

Awfis Space Solutions has signed managed aggregation deal of 3 Lakh square feet (Sq.ft) with Nyati Group.

Skipper’s board has approved to raise upto Rs 600 crore via equity debt.

Indiamart Intermesh has incorporated a new unit, IIL Digital for digital marketplaces and software solutions.

Infibeam Avenues’ artificial intelligence arm introduced a women’s safety feature in AI Facility Manager for CCTV’s.

NBCC (India)’s board will consider a proposal for bonus issue on 31 August 2024.

Carysil’s UK unit will acquire the remaining 30% stake of Yorkshire-based Carysil Brassware for GBP 350,000.

UPL’s arm acquired the remaining 20% stake in PT Excel for $6.9 million.

Jio Financial Services subscribed to an additional 6.8 crore shares of Jio Payments bank for Rs 68 crore. The company’s holding in payment bank units increased to 82.17% from 78.95%.

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Net profit of PNC Infratech rose 218.44% to Rs 575.17 crore in the quarter ended June 2024 as against Rs 180.62 crore during the previous quarter ended June 2023. Sales rose 3.62% to Rs 2167.51 crore in the quarter ended June 2024 as against Rs 2091.70 crore during the previous quarter ended June 2023.

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