PNC Infratech Secures ₹2,039.61 Crore Contract from CIDCO for NAINA Project; Stock Gains Attention
Delhi News
Shares of PNC Infratech gained attention on October 14 following the company’s announcement of a major contract awarded by the City & Industrial Development Corporation of Maharashtra (CIDCO). This significant order, valued at ₹2,039.6 crore, is part of the broader Navi Mumbai Airport Influence Notified Area (NAINA) development initiative.
The project involves comprehensive infrastructure development aimed at enhancing the region’s connectivity and accessibility. Key components include constructing roads 20 meters wide or more, which will facilitate smoother traffic flow and better access to various areas within the NAINA region.
In addition to road construction, the project will encompass the building of various major and minor structures. These include flyovers, minor bridges, and vehicular and pedestrian underpasses designed to improve transportation efficiency. Furthermore, associated electrical work, such as installing street lighting, will be carried out in Town Planning Schemes (TPS) 8, 9, and 12, contributing to the overall development and modernization of the area.
The project awarded to PNC Infratech is structured on an Engineering, Procurement, and Construction (EPC) basis, with a timeline of 1,460 days for completion, including the monsoon periods. This extensive timeframe highlights the project’s scale and the company’s commitment to delivering quality infrastructure.
In the previous trading session, PNC Infratech shares closed slightly lower by half a percent at ₹440.90 on the National Stock Exchange (NSE). Despite this dip, the stock has shown strong overall performance, rising approximately 26 percent this year, surpassing the Nifty’s return of 14 percent during the same period. Over the past year, the stock has appreciated by about 20 percent, while the Nifty index has gained around 26 percent.
PNC Infratech Limited (PNCIL) is a key player in the infrastructure sector, specializing in developing, constructing, operating, and managing various projects. The company undertakes a wide range of initiatives, including highways, bridges, flyovers, airport runways, power transmission lines, water supply systems, and industrial area development. This diverse portfolio positions PNC Infratech as a significant contributor to India’s infrastructure growth.
Valor Estate Shares Gain Attention Following Project Win from MCGM
Valor Estate, previously known as DB Realty, is expected to see its shares continue to rise for the fifth consecutive session on October 14. This positive trend follows the company’s recent announcement that it has secured a significant project from the Municipal Corporation of Greater Mumbai (MCGM).
The project involves constructing, completing, and handing over approximately 13,374 affordable housing units under the project-affected persons (PAP) scheme. These housing tenements will be built on the company’s Malad East, Mumbai land.
This new project underscores Valor Estate’s commitment to addressing the need for affordable housing in the city, reflecting the company’s active role in urban development. The support from MCGM is likely to boost investor confidence and further enhance the company’s position in the real estate market.
The order contract awarded to Valor Estate is set to be completed within 60 months of the Commencement Certificate (CC) issuance. This timeline establishes a clear deadline for the company to deliver the affordable housing units as planned.
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The stock has experienced notable fluctuations, reaching a 52-week high of ₹284.95 on February 9, 2024, and a low of ₹135.65 on October 25, 2023. The shares are trading 29.08 percent below their 52-week high but remain 48.99 percent above the 52-week low, indicating some volatility in the stock’s performance over the past year.
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Ashoka Buildcon Shares Gain Attention After Securing Projects Worth ₹2,309.99 Crore.
Ashoka Buildcon’s share price is expected to increase for the third consecutive day on October 14, following the company’s receipt of a Letter of Acceptance (LoA) for two projects from Maharashtra State Road Development Corporation Ltd. (MSRDCL).
The first project involves engineering, procurement, and construction (EPC) work valued at ₹310 crore. This project entails building a central bridge across Bankot Creek, connecting Kolmandla in Raigad District to Veshvi on the Revas Reddi Coastal Highway No. 5 in Ratnagiri District. The project is set to be completed within 36 months, accounting for the monsoon season.
Additionally, Ashoka Buildcon has secured another significant project from MSRDCL, worth ₹1,999.99 crore. This project includes the construction of a central bridge across Jaigad Creek, linking Tawsal and Jaigad, and another bridge across Kundalika Creek, connecting Revdanda to Salav on the same coastal highway in Ratnagiri District.
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Both of Ashoka Buildcon’s new projects are set to be completed within 36 months, including considerations for the monsoon season. Earlier this month, the company secured a project valued at ₹1,673.24 crore from the City and Industrial Development Corporation of Maharashtra Limited (CIDCO).
Additionally, Ashoka Buildcon was declared the lowest bidder for a project worth ₹918 crore by the Brihanmumbai Municipal Corporation (BMC). The Mumbai Metropolitan Region Development Authority (MMRDA) also awarded the company a project valued at ₹474.10 crore. This project involves the design and construction of an elevated road connecting Kalyan-Murbad Road (near Palms Water Resort) to Badlapur Road (near Jagdish Dughdhalaya) and the Pune Link Road, which will cross over the Karjat-Kasara railway line and include a slip road.
The company’s share price reached a 52-week high of ₹284.75 on September 6, 2024, and a 52-week low of ₹120.90 on October 26, 2023.
