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  5. PNC Infratech shares hit 20% lower circuit as NHAI extends Awadh Expressway debarment to company; all you need to know

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PNC Infratech shares hit 20% lower circuit as NHAI extends Awadh Expressway debarment to company; all you need to know

Abha Raverkar
By Abha Raverkar

3 min read | Updated on September 15, 2026, 11:51 IST

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SUMMARY

NHAI extended the debarment of the concessionaire to the company. PNC Infratech is the promoter of Awadh Expressway Pvt Ltd.

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PNCINFRA
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PNC Infratech shares

PNC Infratech has a total market capitalisation of ₹3,599.76 crore as of September 15, 2026, according to data on the NSE. | Image: Shutterstock

PNC Infratech share price: Shares of PNC Infratech hit their 20% lower circuit and hit a 52-week low on Tuesday, September 19, after the National Highway Authority of India (NHAI) extended the debarment of Awadh Expressway Pvt Ltd, its concessionaire, to the company.
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The stock tumbled as much as 20% to hit an intraday and 52-week low of ₹140.32 per equity share on the National Stock Exchange (NSE) on Tuesday, September 15, compared with Friday’s closing price of ₹175.40 apiece. The shares hit a 52-week high of ₹325 on September 17, 2025.

The scrip has fallen 21% in the past week and 36% over the month. On a year-to-date (YTD) basis, it has lost 44%.

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“In continuation of our earlier intimation dated August 6, 2026…it is informed that PNC Infratech Limited (the "Company") received a letter from NHAI on 11.09.2026, extending the debarment of Awadh Expressway Private Limited (the "Concessionaire") for a period of three years to the Company, being the Promoter of the Concessionaire,” it said in a regulatory filing dated Sunday, September 14.

NHAI extended the debarment of the concessionaire to the company. PNC Infratech is the promoter of Awadh Expressway Pvt Ltd.

Due to the debarment, PNC Infratech will not be able to participate in any bid of the Ministry of Road Transport and Highways (MoRTH) and NHAI, along with their executing agencies, for three years.

“The company/concessionaire is evaluating legal remedies in the matter,” the filing added.

The debarment is related to the issues in the construction of the Kanpur-Lucknow Expressway.

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The NHAI observed a slippage of about 300 meters near km 64 (RHS) of the Expressway on July 26, 2026, out of the total length of 63 km. Following the identification of the issue, NHAI took action against the concessionaire, independent engineer, and concerned officials, as per a release on the Press Information Bureau (PIB) dated August 5, 2025.

Initially, the debarment was limited to Awadh Expressway Pvt Ltd, the concessionaire, but now it has been extended to the concessionaire’s promoter, PNC Infratech.

PNC Infratech has a total market capitalisation of ₹3,599.76 crore as of September 15, 2026, according to data on the NSE.

Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.

About The Author

Abha Raverkar
Abha Raverkar is a post-graduate in economics from Christ University, Bengaluru. She has a strong interest in the markets and loves to unravel the nitty-gritties of the latest happenings in the world of markets, business, and the economy.

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