PNC Infratech gained 2.8% to Rs 397 at 11:10 IST on BSE after the company's associate firm Ghaziabad Aligarh Expressway commenced toll operations from 24 June 2015 on the Ghaziabad-Aligarh section of National Highway - 91.
The company made announcement after market hours yesterday, 25 June 2015.
Meanwhile, the BSE Sensex was down 88.45 points, or 0.32%, to 27,807.52
On BSE, so far 11,715 shares were traded in the counter, compared with an average volume of 4,244 shares in the past two weeks.
The stock hit a high of Rs 408.80 and a low of Rs 390 so far during the day. The stock hit a record high of Rs 417 on 27 May 2015. The stock hit a record low of Rs 346.30 on 26 May 2015.
The small-cap company has an equity capital of Rs 51.31 crore. Face value per share is Rs 10.
PNC Infratech holds 35% equity in Ghaziabad Aligarh Expressway (GAEPL), the balance being with Srei Infrastructure Finance and its associates and Galfar Engineering & Contracting SAOG and its associate.
PNC Infratech said that GAEPL was earlier awarded the project of four laning of Ghaziabad - Aligarh section of NH-91 from Km. 23.600 to Km. 149.900 in the State of Uttar Pradesh, under NHDP Phase-III by NHAI, on BOT basis. The total project cost was Rs 2019 crore including a grant of Rs 311 crore. The concession period for the project was 24 years from the appointed date, including construction period of 30 months, the company had said. The toll-able section has two toll collection points at Luharali and Somna located at Km. 47.500 and Km. 113.300, respectively. PNC Infratech was also the EPC contractor for the project, it added.
PNC Infratech's net profit fell 12.5% to Rs 66.94 crore on 11.6% drop in total income to Rs 1156.19 crore in the year ended 31 March 2015 (FY 2015) over the year ended 31 March 2014 (FY 2014).
PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.
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