MUMBAI - Shares of PNC Infratech Ltd. saw a notable increase following the company's announcement of securing a significant road project and entering into definitive agreements for divesting a number of assets. The infrastructure firm disclosed it had won a contract worth ₹1,174 crore for the construction of the Western Bhopal Bypass, which will feature a four-lane highway and an accompanying service road.
In addition to the project win, PNC Infratech has agreed to divest twelve road assets to a trust that is backed by global investment firm KKR. These strategic moves have been well received by investors, as evidenced by the company's stock price performance. In early trading, PNC Infratech's shares climbed over one percent to ₹412.95 and continued to gain momentum, further rising by 2% to reach ₹413.20. This uptick marks the seventh consecutive session of gains for the company, accompanied by high trading volumes, signaling robust market confidence in its recent developments.
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