PNC Infra Shares Fall: Shares of construction engineering company PNC Infratech are under discussion today, Tuesday. In intra-day trade today on the Bombay Stock Exchange (BSE), the company’s shares fell 10 percent to Rs. 470.05 per share. The fall in the stock came after reports that the Central Bureau of Investigation (CBI) had conducted searches at the company’s corporate office and the residence of the MD and whole-time director. CBI has also arrested 4 employees of PNC Infra in a bribery case.
What are the details?
The CBI has arrested NHAI General Manager Purushottam Lal Chaudhary, who is posted in Chhatarpur, Madhya Pradesh, in a Rs 10 lakh bribery case. Officials said six other accused were arrested in the case on Saturday evening, including NHAI consultant Sharad Verma, resident engineer Prem Kumar Sinha and four employees of the accused company ‘PNC Infratech’ namely Satyanarayana Anguluri, Brijesh Mishra, Anil Jain and Shubham. . The accused were taking bribes to complete the process of final transfer of the Jhansi-Khajuraho project and final bill issued to the company by the National Highways Authority of India (NHAI), issuance of No Objection Certificate. The CBI registered an FIR against 10 suspects, including the seven accused, who were arrested in the case.
42 crore shares of this company were sold, the price fell by 10%, the share came to ₹63
The company’s share traded on BSE today at Rs. It touched an intraday low of 470.05. The stock has gained 12.42% in one month and 45% in six months. The stock is up 36% YTD this year. This stock has returned 51.02% in one year. Its 52-week high is Rs.574.50 and its 52-week low is Rs.310.05. The market cap of the company is Rs. 12,274.12 crores.