PNC Infratech shares hit fresh 52-week low, plunge nearly 34% in two days; here's why
PNC Infratech said the development would not affect its status as a going concern or the execution, operation and maintenance of its ongoing projects.
- Sep 16, 2026,
- Updated Sep 16, 2026 9:55 AM IST
Shares of PNC Infratech Ltd continued their sharp drop in Wednesday's trade, sliding 17.20 per cent to hit a fresh one-year low of Rs 116.25. At this level, the stock has cracked 33.76 per cent in two days.
The steep decline came after the company informed the bourses on Monday that the National Highways Authority of India (NHAI) extended the debarment of Awadh Expressway Pvt Ltd, its concessionaire, to the company as its promoter.
In a regulatory filing, PNC Infratech said it received a letter from NHAI on September 11 extending the debarment of Awadh Expressway for three years and extending it to PNC Infratech.
The company said it would consequently not be able to participate in any bids floated by the Ministry of Road Transport and Highways (MoRTH), NHAI and their executing agencies for a period of three years.
"NHAI vide its letter dated 11.9.2026 extended the debarment of the Concessionaire to the Company, being its Promoter. The Company received a letter from NHAI (Authority) on 11.9.2026," PNC Infratech said.
The company said it is evaluating legal remedies in the matter.
At the same time, PNC Infratech said the development would not affect its status as a going concern or the execution, operation and maintenance of its ongoing projects.
"This will not impact the company's status as a going concern and/or the execution, operation, and maintenance of its ongoing projects," the company said.
PNC Infratech added that it would disclose any financial implications, if applicable, as clarity emerges.
The latest development follows the company's earlier disclosure dated August 6, 2026, about the concessionaire's debarment.
"In continuation of our earlier intimation dated August 6, 2026 and as required as the per sub-para 19/20 of Para A of Part A of Schedule III of SEBI Listing Regulations, 2015, read with SEBI Circular No. SEBV HO/49ll4ll4(7)2025-CFD-POD2fil3762l2026 dated January 30, 2026, it is informed that PNC Infratech Limited (the "Company") received a letter from NHAI on 11.09.2026, extending the debarment of Awadh Expressway Private Limited (the "Concessionaire") for a period of three years, to the Company being Promoter of the Concessionaire. The Company/Concessionaire is evaluating legal remedies in the matter," PNC Infratech stated in an exchange filing.
Shares of PNC Infratech Ltd continued their sharp drop in Wednesday's trade, sliding 17.20 per cent to hit a fresh one-year low of Rs 116.25. At this level, the stock has cracked 33.76 per cent in two days.
The steep decline came after the company informed the bourses on Monday that the National Highways Authority of India (NHAI) extended the debarment of Awadh Expressway Pvt Ltd, its concessionaire, to the company as its promoter.
In a regulatory filing, PNC Infratech said it received a letter from NHAI on September 11 extending the debarment of Awadh Expressway for three years and extending it to PNC Infratech.
The company said it would consequently not be able to participate in any bids floated by the Ministry of Road Transport and Highways (MoRTH), NHAI and their executing agencies for a period of three years.
"NHAI vide its letter dated 11.9.2026 extended the debarment of the Concessionaire to the Company, being its Promoter. The Company received a letter from NHAI (Authority) on 11.9.2026," PNC Infratech said.
The company said it is evaluating legal remedies in the matter.
At the same time, PNC Infratech said the development would not affect its status as a going concern or the execution, operation and maintenance of its ongoing projects.
"This will not impact the company's status as a going concern and/or the execution, operation, and maintenance of its ongoing projects," the company said.
PNC Infratech added that it would disclose any financial implications, if applicable, as clarity emerges.
The latest development follows the company's earlier disclosure dated August 6, 2026, about the concessionaire's debarment.
"In continuation of our earlier intimation dated August 6, 2026 and as required as the per sub-para 19/20 of Para A of Part A of Schedule III of SEBI Listing Regulations, 2015, read with SEBI Circular No. SEBV HO/49ll4ll4(7)2025-CFD-POD2fil3762l2026 dated January 30, 2026, it is informed that PNC Infratech Limited (the "Company") received a letter from NHAI on 11.09.2026, extending the debarment of Awadh Expressway Private Limited (the "Concessionaire") for a period of three years, to the Company being Promoter of the Concessionaire. The Company/Concessionaire is evaluating legal remedies in the matter," PNC Infratech stated in an exchange filing.