Shares of PNC Infratech were up 4 per cent at Rs 189 on the BSE on Friday, having surged 11 per cent from Wednesday s low of Rs 170.70, after institutional investors bought nearly 10 per cent stake in the road & highways company. The stock erased its entire 6 per cent loss recorded on Wednesday. On January 6, 2021, CN Infrabuild had sold its entire 9.95 per cent stake, or 25.5 million equity shares, of PNC Infratech worth over Rs 447 crore through an open market transaction. CN Infrabuild sold shares at an average price of Rs 175.12 per share via block deals on the BSE, the exchange data shows. Axis Mutual Fund, BNP Paribas Arbitrage, Nippon India Mutual Fund, Fidelity Asian Values PLC and Fidelity Funds bought a combined 11.13 million equity shares, data shows. The names of other buyers could not be ascertained immediately.
Dilip Buildcon Ltd receives completion certificate for HAM project in Karnataka
Posted On: 2021-01-02 08:52:40 (Time Zone: Arizona, USA)
Dilip Buildcon Ltd has announced that the project Four Laning from km 308.550 to km 358.500, Byrapura to Challakere section of NH-150 A, on Hybrid Annuity Mode under Bharatmala Pariyojna in the state of Karnataka Pkg - II, has been provisionally completed. The Provisional completion certificate has been issued by the authority and had declared the project fit for entry into commercial operation as on December 15, 2020 and consequently the company is entitled to receive the bonus of Rs 8.84 crores in lieu of early completion (i.e. 105 days prior to the revised scheduled completion date) of the said Project.
Dilip Buildcon rose 1.66% to Rs 393.95 after the construction company received a Letter of Acceptance (LoA) for a road project in Gujarat.Dilip Buildcon during market hours today (15 December) announced that it has received LoA from the National Highway Authority of India (NHAI) for Hybrid Annuity Mode (HAM) project in Gujarat.
The scope of the project includes Four Laning of Dhrol - Bhadra Patiya section of NH-151A and Bhadra Patiya - Pipaliya Section of NH-151A in Gujarat through Public private Partnership (PPP).
The bid project cost is Rs 882 crore and the project is to be completed in 24 months and will have an operation period of 15 years.
Shares of IRCON International, PNC Infratech, and Gayatri Projects gained up to 9 per cent on the BSE in intra-day trade on Friday after these companies announced winning orders.
IRCON International was up 9 per cent at Rs 96.05 after the company said it has been awarded the work of upgradation of Gurgaon- Palaud,-Rewari section of NH-352W (design length of 46.110 km) 35 feeder route in Haryana on Hybrid Annuity Mode valuing Rs 900 crore on competitive bidding basis by National Highways Authority of India (NHAI). This work will be undertaken and executed by a Special Purpose Vehicle (Concessoonaire as a limited liability company) which shall be incorporated by IRCON as its whoIIy-owned subsidiary company, it said.