{
  "id": 7483701,
  "title": "PNC Infratech shares tank 20%. What’s triggering the steep plunge on Tuesday?",
  "url": "https://urgent.news/2026/09/15/pnc-infratech-shares-tank-20-whats-triggering-the-steep-plunge-on",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-15T04:43:32.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/pnc-infratech-shares-tank-20-whats-triggering-the-steep-plunge-on-tuesday/articleshow/134252127.cms"
  },
  "original_language": "en",
  "account": "Shares of PNC Infratech, an infrastructure company, plummeted by as much as 20% to reach their lowest point of Rs 140 on the BSE on Tuesday. This sharp decline came after the National Highways Authority of India (NHAI) extended the debarment of Awadh Expressway Pvt Ltd to the company for a period of three years. This decision will prohibit PNC Infratech from bidding on projects floated by the Ministry of Road Transport and Highways (MoRTH), NHAI, and their executing agencies during this time.\n\nNHAI's directive was communicated to PNC Infratech on September 11, extending the debarment of Awadh Expressway, the concessionaire, within PNC Infratech's capacity as the promoter. The company and the concessionaire are currently assessing their legal options in response to this development. According to a filing with the stock exchange, the debarment is not expected to impact PNC Infratech's standing as a viable entity or the completion of its current projects. The financial consequences of this situation are anticipated to be revealed as more information becomes available.\n\nThe extension of the debarment is directly related to NHAI's earlier action against Awadh Expressway in connection with the Kanpur-Lucknow Expressway project, for which Awadh Expressway serves as the concessionaire. In August, PNC Infratech had informed the stock market that it had not been debarred or labeled as a non-performer by NHAI at that time. On August 5, the Ministry of Road Transport and Highways released a statement confirming that NHAI had sent a notice proposing to declare PNC Infratech a non-performer, which would render the company ineligible for future NHAI bidding.\n\nIn August, PNC Infratech disclosed a 23% year-on-year decrease in consolidated net profit for the June quarter, reporting a consistent net profit of Rs 332 crore for the first quarter of fiscal 2027. This figure contrasts with Rs 431 crore in the comparable quarter a year earlier. However, revenue from operations rose 18.6% year-on-year to Rs 1,688 crore, up from Rs 1,423 crore in the same period last year. EBITDA also increased by 42.1% to Rs 523 crore, while the EBITDA margin improved to 31% from 25.9% a year ago.",
  "summary": "PNC Infratech shares plunged after NHAI extended the debarment of Awadh Expressway to the company for three years, restricting its participation in key road project bids. The company is evaluating legal remedies, while its ongoing projects remain unaffected.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}