vShares of PNC Infratech Ltd rose sharply in Wednesday's opening trade, climbing 13.72 per cent to hit a high of Rs 237. The uptick followed the company's disclosure that it secured the First Lowest (L1) bidder position in tenders floated by the National Highways Authority of India (NHAI) for two Hybrid Annuity Model (HAM)-based projects.
"We hereby inform you that our Company has emerged as the First Lowest (L1) Bidder in tenders floated by National Highways Authority of India (NIIAI) for 2 HAM based National Highway Projects for an aggregate 'Bid Project Cost' (BPC) of Rs 3483 crore (Rupees Three Thousand Four Hundred Eight Three Crore only) exclusive of GST," the company stated.
"The financial bids for the 2 (two) Projects were opened on 21'st April 2026 (afternoon)," it added.
According to the company, the first project involves the construction of a four-lane highway from Barabanki (design chainage Km 0+000) to Mustafabad (design chainage Km 43+030) on NH-927 in Uttar Pradesh under the NH (O) scheme. The quoted bid project cost for this package stands at Rs 1,728 crore.
The second project pertains to the construction of a four-lane highway from Mustafabad (design chainage Km 43+030) to Biswariya (design chainage Km 101+515), also on NH-927 in Uttar Pradesh under the same scheme. The quoted bid project cost for this package is Rs 1,755 crore.
PNC Infratech said both domestic projects are to be executed within 24 months each.
Technically, PNC Infra shares are trading above their 5-day, 10-day, 20-day, 30-day, 50-day and 100-day simple moving averages (SMAs) but below their 150-day and 200-day SMAs. The 14-day relative strength index (RSI) stood at 39.71, indicating the stock is neither in oversold nor overbought territory.
Despite today's upmove, AR Ramachandran, a Sebi-registered research analyst at Tips2trades, said the stock still looks bearish on the daily charts. "It faces strong resistance at Rs 235. A daily close below the Rs 221 support level could lead to a decline towards Rs 189 in the near term," he added.
The scrip has a standalone/consolidated price-to-earnings (P/E) ratio of 15.84/7.22 and a price-to-book (P/B) value of 1.10. Earnings per share (EPS) stood at 14.21/31.15, with return on equity (RoE) at 6.92. According to Trendlyne data, the stock has a one-year beta of 1.17, indicating relatively high volatility.
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