URL copied to clipboard

Trending News

PNC Infratech Shares Plunge 20% as MoRTH Disqualifies Company from Tenders for One Year; Check Details

PNC Infratech shares hit a 20% lower circuit after MoRTH disqualified the company from tender processes for one year, effective October 18, 2024, following a CBI investigation.

PNC Infratech shares were frozen at the lower circuit limit of 20%, trading at ₹366.70 on the BSE early on October 21, 2024. This reaction follows significant news over the weekend regarding the company’s disqualification from tender processes by the Ministry of Road Transport & Highways (MoRTH) for one year, effective from October 18, 2024.

Alice Blue Image

Also Read: ICICI Lombard Reports 20% Rise in Q2FY25 Net Profit, Premiums Up 14%; Get More Details Here

The disqualification affects PNC Infratech Limited and its subsidiaries, PNC Khajuraho Highways and PNC Bundelkhand Highways. The company received the order after appearing before MoRTH for a hearing on October 18, where they presented documents related to ongoing investigations by the CBI.

According to the company’s filing, the MoRTH decision came after reviewing the circumstances surrounding an FIR and charge sheet filed against the firm. The order restricts PNC Infratech and its subsidiaries from participating in any MoRTH tender process for a full year.

Despite this setback, PNC Infratech asserted that there would be no impact on its ongoing development, construction, operations, and maintenance activities. The company stated that it would assess any potential impacts on other business areas and communicate updates as necessary.

Also Read: L&T Finance Reports 17% Profit Surge to Rs 696 Crore in Q2 FY24, with Strong Asset Growth; Find out more

On a positive note, PNC Infratech shares have risen nearly 5% year-to-date and 7.5% over the past year, with an impressive 114% return over the last five years.

Loading
Submit the form, and get to know how you scored!!!
Read More News
NBFC स्टॉक उछला, हाउसिंग फाइनेंस यूनिट ₹3,929 करोड़ में Warburg Pincus को बेची गई!

NBFC स्टॉक उछला, कंपनी ने अपनी हाउसिंग फाइनेंस सहायक कंपनी को ₹3,929 करोड़ में Warburg Pincus को बेचा।

वित्तीय समूह ने हाउसिंग फाइनेंस सहायक कंपनी में 84.44% हिस्सेदारी ₹3,929 करोड़ में Warburg Pincus को बेचकर नई स्वामित्व के

टेक्सटाइल स्टॉक ने 16 दिसंबर, 2024 को इक्विटी शेयर अलॉटमेंट पर चर्चा के लिए बोर्ड मीटिंग की योजना बनाई है।

टेक्सटाइल स्टॉक 5% के लोअर सर्किट पर पहुंचा, कंपनी स्टॉक स्प्लिट पर विचार करेगी।

टेक्सटाइल स्टॉक ने शेयर अलॉटमेंट, कन्वर्टिबल वारंट्स और स्टॉक स्प्लिट पर चर्चा के लिए 12-18 दिसंबर, 2024 तक ट्रेडिंग विंडो