PNC Infratech falls owing to weak results
DSIJ Intelligence / 08 Dec 2016
PNC Infratech has corrected significantly owing to weak results. The shares of the company which previously closed at Rs 112 opened down by three per cent.
PNC Infratech has corrected significantly owing to weak results. The shares of the company which previously closed at Rs 112 opened down by three per cent. In Q2FY16, net sales of the company stood at Rs 359.91 crore, a decrease of 23.34 per cent. Its PBIDT stood at Rs 46.33 crore, a fall of 24.11 per cent as compared to Q2FY16. However, its PAT stood at Rs 35.21 crore showing an increase of 15.41 per cent as compared with corresponding quarter of the previous fiscal.
The company in Q2 had received an order of Rs 820 crore highway project in Rajasthan. NHAI had issued letter of award (LOA) for development of NH-11A (Extn) 4-laning/2-laning with paved shoulder of Dausa-Lalsot-Kauthun. PNC Infratech is trading with 30 day SMA of 115.05. The shares in the last three months have fallen 13 per cent. In the last one year, the scrip has given a return of four per cent.
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