PNC Infratech shares plunge 20% after NHAI debarment extension

PNC Infratech's share price fell 20% on Tuesday after the National Highways Authority of India extended the company's debarment related to the Awadh Expressway project for an additional three years. The extended debarment will restrict the company's ability to bid for key road construction contracts during this period.

The company said it is exploring legal remedies in response to the NHAI action. However, PNC Infratech stated that its currently ongoing projects remain unaffected by the debarment extension.