PNC Infratech share tanks 20%, hits over nine-month low; here's why

Quick Summary:

PNC Infra along with its arms PNC Khajuraho and PNC Bundelkhand Highways, has been disqualified from participating in any tender process by the MoRTH for a period of 1 year, starting from Oct 18.

The decision stems from an investigation involving a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI) in June 2024.

As of June 30, 2024, the company’s unexecuted order book stands at Rs 19,098 crore which is 2.5 times of FY24 revenue.

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Article Details

Category: BusinessFinance

Markets: India

Topics: PNC Khajuraho Highways Private Limited PNC Infratech shares Markets PNC Infratech share price MoRTH

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 10:30:24 (12 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 555 words

Reading Time: 4 minutes read

Sentences: 21 lines

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Copyright Owner: © Business Standard

News ID: 23147253

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