PNC Infratech shares hit 52-week low! Stock down 31% in a month; should you bottom-fish?
PNC Infratech Ltd shares on Wednesday slipped 6.96 per cent to hit an intraday low of Rs 297. The stock eventually settled 3.18 per cent lower at Rs 309.05 on BSE. At this price, it has slumped 31.49 per cent in the past one month. The counter has been battered by the September 2024 quarter (Q2 FY25) earnings and the road transport ministry’s restrictions.
“PNC Infra’s results have been slightly disappointing from the medium-term perspective as the last two quarters were challenging for infra companies due to general elections and erratic monsoon. Also, the road transport ministry’s restriction will impact investor sentiment in the short term,” said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.
PNC Infra…
