Why PNC Infra, Ramky Infra and Intellect Design Arena shares rallied up to 9% today

Shares of PNC Infratech Ltd, Intellect Design Arena Ltd and Ramky Infrastructure Ltd climbed up to 9 per cent in Thursday's trade due to different reasons. PNC Infratech climbed 8 per cent on update on recent disqualification by Ministry of Roads (MoRTH) in a bribery case. Ramky Infra gained on Rs 215-crore order win while Intellect Design Arena rose despite recent clarification by the company on the price movement.

Shares of PNC Infratech advanced 7.85 per cent to hit a high of Rs 332.45 on BSE. The stock gained as the Delhi High Court asked Ministry of Roads (MoRTH) and NHAI to consider the representation by the company, seeking revocation of the disqualification. To recall, the company and its two subsidiaries were disqualified by MoRTH from participating in any new tender process of the ministry, including NHAI and NHIDCL, for one year due to a bribery case filed by the CBI involving four employees of the company.

The court now has asked the ministry to consider PNC Infratech's representation uninfluenced by any observations or findings in the impunged order within a period of four weeks. The company said there will be no impact on the ongoing development, construction, operation and maintenance activity of the company and its subsidiaries.

Ramky Infrastructure added 4.73 per cent to Rs 605.50. This stock jumped as the company received "Letter of Acceptance" from Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB) for manning, operation and maintenance of STPs' and its connecting Interception and Diversion under HMWSSB jurisdiction for a period of five years. The order is worth Rs 215.08 crore.

Intellect Design Arena Ltd advance 9.04 per cent to Rs 998. The stock has been in news recently following the launch of Enterprise AI platform, Purple Fabric. The company recently said there has been no events or information or decisions having a bearing on the operations and performance of the company, including all price sensitive information, which requires disclosure under the Listing Regulations. Intellect Design Arena said it has regularly placed in the public domain and have been updating any such decisions or events as and when it occurs.