Shares of PNC Infratech experienced a notable rise of nearly 7 percent, reaching ₹224 around 2:20 PM on Wednesday. This surge was prompted by the company securing the position of the lowest bidder for two highway projects under the Hybrid Annuity Model (HAM), awarded by the National Highways Authority of India, with a combined project cost of ₹3,483 crore.
The increase in PNC Infratech’s stock comes amid a broader market downturn, as the Nifty 50 index fell by 0.84 percent. The stock has climbed from its previous closing price of ₹209, marking a continuation of its upward momentum.
Over the past month, the company has seen a 28 percent increase in its share price, significantly outpacing the Nifty’s rise of 8 percent for the same period. The first project involves constructing a four-lane highway from Barabanki to Mustafabad on NH-927 in Uttar Pradesh, with a bid of ₹1,728 crore. The second project, extending from Mustafabad to Biswariya, has a bid cost of ₹1,755 crore. Both projects will be executed under the HAM framework and are scheduled for completion within 24 months.
PNC Infratech’s unexecuted order book stood at ₹19,346 crore as of Q3 FY26, indicating strong order book visibility. This reflects a broader trend toward infrastructure development in India, bolstered by the government’s ongoing commitment to capital expenditures, which includes a record outlay of ₹12.2 lakh crore proposed for FY2026-27.
Market analysts express optimism regarding the stock, projecting an implied upside of 31 percent from current levels, with a 12-month target price set at ₹296. This suggests continued confidence in the company’s execution capabilities and momentum in order inflows.
Published on April 22, 2026.
