PNC Infratech shares surged 13% today. Here's why
PNC Infratech shares climbed 12.62 per cent to hit a high of Rs 514.40 on BSE. The PNC Infratech stock is up 57 per cent in the past six months.
- May 22, 2024,
- Updated May 22, 2024 11:56 AM IST
Shares of PNC Infratech Ltd climbed 13 per cent in Wednesday's trade after the company said it has been declared L1 (First Lowest) bidder for two EPC road projects of Maharashtra State Road Development Corporation (MSRDC) for an aggregate quoted price of Rs 4,994 crore.
Following the development, the stock climbed 12.62 per cent to hit a high of Rs 514.40 on BSE. PNC Infratech is up 57 per cent in the past six months. One of the project is for the "construction of Access Controlled Pune Ring road in Pune district Package PRR E2from Indori Km 12+500 To Chimbali Km 26+300 (Length: 13.800 Km) in the state of Maharashtra on EPC mode."
This project's quoted amount is Rs 2,486 crore and the construction period is 30 months.
The second project, whose quoted amount is Rs 2,508 crore, is for the construction of Access Controlled Expressway Connector to Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in the State of Maharashtra on EPC Mode: Package JNE-04 from Kumbhari Km 98+945, to Katneshwar Km 127+840, in District Parbhani (Length: 28.895 Km," it said.
PNC Infratech Q4 results preview
The company will be announcing its March quarter results on May 24. Its board would consider declaring dividend for FY25 during the same day.
Nirmal Bang expects PNC Infratech to see a 9.6 per cent YoY rise in sales. Ebitda margin is anticipated to contract 16 basis points to 13.1 per cent QoQ. On YoY basis, Ebitda and PAT are expected to rise 8.2 per cent and 6.3 per cent, respectively.
"The order book as of December 2023 stood at Rs 17,380 crore (2.5 times FY23 revenue). The company anticipates order inflow of Rs 12,000 crore in FY25 with a target of 15-20 per cent from the non-road segments to reduce dependency on road projects. PNC has improved execution in its Water segment and expects it to be the key growth driver in FY25," Nirmal bang said.
Shares of PNC Infratech Ltd climbed 13 per cent in Wednesday's trade after the company said it has been declared L1 (First Lowest) bidder for two EPC road projects of Maharashtra State Road Development Corporation (MSRDC) for an aggregate quoted price of Rs 4,994 crore.
Following the development, the stock climbed 12.62 per cent to hit a high of Rs 514.40 on BSE. PNC Infratech is up 57 per cent in the past six months. One of the project is for the "construction of Access Controlled Pune Ring road in Pune district Package PRR E2from Indori Km 12+500 To Chimbali Km 26+300 (Length: 13.800 Km) in the state of Maharashtra on EPC mode."
This project's quoted amount is Rs 2,486 crore and the construction period is 30 months.
The second project, whose quoted amount is Rs 2,508 crore, is for the construction of Access Controlled Expressway Connector to Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in the State of Maharashtra on EPC Mode: Package JNE-04 from Kumbhari Km 98+945, to Katneshwar Km 127+840, in District Parbhani (Length: 28.895 Km," it said.
PNC Infratech Q4 results preview
The company will be announcing its March quarter results on May 24. Its board would consider declaring dividend for FY25 during the same day.
Nirmal Bang expects PNC Infratech to see a 9.6 per cent YoY rise in sales. Ebitda margin is anticipated to contract 16 basis points to 13.1 per cent QoQ. On YoY basis, Ebitda and PAT are expected to rise 8.2 per cent and 6.3 per cent, respectively.
"The order book as of December 2023 stood at Rs 17,380 crore (2.5 times FY23 revenue). The company anticipates order inflow of Rs 12,000 crore in FY25 with a target of 15-20 per cent from the non-road segments to reduce dependency on road projects. PNC has improved execution in its Water segment and expects it to be the key growth driver in FY25," Nirmal bang said.