PNC Infratech Limited has informed the Exchange regarding 'Disclosure of information under Regulation 30 of the SEBI (LODR) Regulations, 2015 '.
PNCINFRA · price
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Awaiting price reaction for this filing.
PNC Infratech, in a JV with Aakshya Infra Projects, was awarded a Rs 2,039.61 crore EPC contract by CIDCO (Maharashtra government body) in October 2024 for road and infrastructure work under the NAINA Project. On May 6, 2025, the Bombay High Court quashed and set aside this work order after a losing bidder challenged the tender evaluation. PNC Infratech has filed a Special Leave Petition (SLP) in the Supreme Court on May 7, 2025, seeking a stay on the High Court order. The company has stated that the material and financial impact will be assessed after the Supreme Court's decision. The trading window for insiders remains closed until 48 hours after Q4 FY25 results are declared.
This is a significant negative development as the Rs 2,039.61 crore order represented a major portion of PNC Infratech's order book. The stock could see downside pressure in the near term due to legal uncertainty, though the Supreme Court appeal provides some hope of relief. Shareholders should monitor the outcome of the SLP closely.