PNC Infratech stock rallies nearly 7% as CCI approves proposed acquisition of Jaiprakash Associates; check details

This comes after the fair trade regulator Competition Commission of India (CCI) said it has given in-principle approval to the EPC firm’s proposal to acquire debt-ridden Jaiprakash Associates Ltd (JAL), should it win a bid in the ongoing insolvency proceeding.

"The proposed combination relates to the acquisition of a minimum 95% and a maximum up to 100% of Jaiprakash Associates Ltd (JAL) by PNC Infratech Ltd (acquirer), or through a special purpose vehicle company that the acquirer may incorporate in the future as its wholly owned subsidiary to acquire JAL," according to a release issued by the regulator on Tuesday.

Apart from PNC Infratech, the proposals of Adani Group and Dalmia Bharat for JAL acquisition have been cleared by the regulator.

Various other companies, including Vedanta Group and Jindal Power, have also approached the CCI seeking nod to submit respective resolution plans to the CoC of JAL.

JAL was admitted into the corporate insolvency resolution process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024. It was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans.

The debt-ridden Infra company’s creditors are claiming a staggering ₹57,185 crore.

The National Asset Reconstruction Company Ltd (NARCL) leads the list of claimants after acquiring the stressed JAL loans from a consortium of lenders headed by the State Bank of India.

PNC Infratech stock performance

The share was trading 3.43% higher at ₹315.05 apiece, as of 12:54 pm.

The stock surged 2.76% over the week and 15.83% over a period of six months. On a year-to-date basis, it declined 5.83%.

While the scrip touched a 52-week low of ₹240 on May 9, 2025, it reached a year’s high of ₹469.65 per equity share on October 16, 2024.

PNC Infratech has a total market capitalisation of ₹8,082.27 crore, as of September 17, 2025, according to data on the NSE.