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PNC Infratech gains on completion of road project ahead of schedule

The company commissioned the Raebareli-Jaunpur BOT project 3 months ahead of schedule.

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SI Reporter Mumbai
Last Updated : Mar 23 2016 | 2:00 PM IST
Shares of PNC Infratech were up over 3% at Rs 502 on the Bombay Stock Exchange after the company said that it has commissioned the Raebareli-Jaunpur BOT project 3 months ahead of schedule.

The project has been completed on 27 February 2016, more than 3 months prior to the scheduled completion date of 2 June 2016, the company said in a release.

With this, the company becomes entitled to receive semi annual (half yearly) annuity of Rs 64.3 crore each during the remaining 15 years of the concession period, the release added.

The stock opened at Rs 488 and touched a high of Rs 510. At 1:55pm, over 2,000 shares were traded on both the stock exchanges.

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First Published: Mar 23 2016 | 1:58 PM IST

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