PNC Infratech‘s share price band has been revised by the exchanges. The change would be applicable from Friday's trading session.

What Happened: PNC Infratech’s price band has been revised downwards from 20% to 10%. This revision means that the share price of the company is capped and cannot fluctuate by more than 5% in a single day.

This comes as the company has been added to the short-term Additional Surveillance Measure (ASM) framework earlier this week.

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The ASM framework monitors stocks with unusually high volatility to reduce risks related to speculative trading or price manipulation. To manage excessive volatility, stock exchanges also adjust price bands regularly. On the BSE, a circuit filter mechanism limits the maximum price fluctuation of a stock in a single day by setting upper and lower boundaries for its price movements.

This comes as PNC Infratech’s share price has been under pressure over the past few days. The stock has sunk around 30% this week. PNC Infratech and two of its subsidiaries have approached the Delhi High Court seeking a stay on the road ministry’s October 18 order, which bars them from participating in any tender processes with the Ministry of Road Transport and Highways (MoRTH) for a year. The order followed a personal hearing related to a CBI investigation.

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