Shares of PNC Infratech Ltd. saw a significant surge on Wednesday, climbing 13.72% to reach Rs 237 in early trade. The substantial uptick followed the company's announcement that it had emerged as the First Lowest (L1) Bidder for two major National Highway projects tendered by the National Highways Authority of India (NHAI).
Two Hybrid Annuity Model Projects Secured
The infrastructure firm secured the two Hybrid Annuity Model (HAM)-based National Highway projects with an aggregate 'Bid Project Cost' (BPC) of Rs 3,483 crore, exclusive of GST. The financial bids for these projects were officially opened on April 21, 2026.
Both projects are located in Uttar Pradesh and fall under the NH (O) scheme, requiring execution within 24 months each. Details of the secured projects include:
- First Project: Construction of a four-lane highway stretching from Barabanki (Km 0+000) to Mustafabad (Km 43+030) on NH-927. The quoted bid project cost for this package is Rs 1,728 crore.
- Second Project: Construction of another four-lane highway from Mustafabad (Km 43+030) to Biswariya (Km 101+515), also on NH-927. This package has a quoted bid project cost of Rs 1,755 crore.
"Our Company has emerged as the First Lowest (L1) Bidder in tenders floated by National Highways Authority of India (NHAI) 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," PNC Infratech stated in its disclosure.
Market Reaction and Outlook
The news propelled PNC Infratech's stock above its 5-day, 10-day, 20-day, 30-day, 50-day, and 100-day simple moving averages, signaling strong positive investor sentiment. While trading below its 150-day and 200-day SMAs, the 14-day Relative Strength Index (RSI) stood at 39.71, indicating the stock was neither oversold nor overbought. The company's successful bids underscore its strong position in India's burgeoning infrastructure sector.