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HDFC Securities see an upside of 30% in PNC Infratech stock Premium The share price of PNC Infratech has gained 10% since the closing Wednesday as the asset management companies or mutual funds lapped up the shares. (istockphoto) The share of PNC Infratech is at par with the price one year ago. Share Via Read Full Story HDFC Securities recommends buy rating to the PNC Infratech stock . It sees an upside of over 30% in the stock in a time frame of upto three months. Incorporated in the year 1999, PNC Infratech Limited is one of the front-ending infrastructure development, construction and management companies in the country. On Wednesday, shares of PNC Infratech Ltd lost 5.59% to close at ₹174.80 on BSE, over the previous close as CN Infrabuild Pvt Ltd sold 2.55 crore shares or 9.95% of equity of PNC Infratech worth over ₹447 crore through an open market transaction. ....
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. ....