Points of PNC Infratech Railway Project LoA:
- PNC Infratech has secured a significant construction project worth Rs 771.46 crore after receiving a Letter of Acceptance from Haryana Rail Infrastructure Development Corporation Limited.
- The project involves designing and constructing civil works to connect the Indian Railways network from New Patli to Patli Station & New Patli to Sultanpur Station within a period of 30 months.
- This is the second contract PNC Infratech has won this month, as the company previously received a letter of award from NHAI for three of its projects, highlighting their expertise in infrastructure and construction sectors.
- On April 6, 2023, the day PNC Infratech received the Letter of Acceptance, the company’s shares increased by 0.42 percent to close at Rs 287.25 apiece on BSE.
- The achievement came on a day when the Indian stock markets logged gains for the second consecutive week due to the real estate and financials sectors, following the Reserve Bank of India’s surprising decision to maintain its key policy rate.
- Indian markets were closed on April 7, 2023, in observance of Good Friday, which is noteworthy.
Details of PNC Infratech Railway Project LoA:
PNC Infratech, a renowned construction and infrastructure company, has recently bagged a significant project worth Rs 771.46 crore. The Haryana Rail Infrastructure Development Corporation Limited has issued a Letter of Acceptance to the company for this project. The announcement was made by PNC Infratech on April 7, 2023, through a regulatory filing.
The project involves the design and construction of civil works connecting the Indian Railways network from New Patli to Patli Station & New Patli to Sultanpur Station, among other things. The work is to be carried out from 29.68-49.7 km and from 55.6- 61.5 km, and it is scheduled to be completed within 30 months.
This isn’t the first time PNC Infratech has won a contract this month. Earlier this month, the company received a letter of award from NHAI for three of its projects, demonstrating the company’s prowess in the infrastructure and construction sectors.
On April 6, 2023, the day PNC Infratech received the Letter of Acceptance, the company’s shares closed 0.42 percent higher at Rs 287.25 apiece on BSE. This achievement came on a day when the Indian stock markets logged gains for the second consecutive week, thanks to real estate and financials stocks, after the Reserve Bank of India, in a surprising move, kept its key policy rate unchanged.
It is noteworthy that Indian markets were closed on April 7, 2023, in observance of Good Friday.
About PNC Infratech:
PNC Infratech, previously known as PNC Construction Company Private Limited, was founded on August 9, 1999. The company became a limited company in 2001 and changed its name to PNC Infratech Limited in 2007. PNC Infratech Limited is recognized as one of the leading infrastructure development, construction, and management firms in the country. Its core business is to undertake a variety of infrastructure projects such as highways, bridges, flyovers, power transmission lines and towers, airport runways, industrial area development, and other related activities.
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