Shares of PNC Infratech rose as much as 4 per cent on Wednesday after the Delhi High Court stayed debarment orders issued by the National Highways Authority of India (NHAI) against the company and its special purpose vehicle, Awadh Expressway, the concessionaire for the relevant project.

In an exchange filing, PNC Infratech said the court had stayed the orders issued by NHAI on September 3 and September 11, 2026. The authority had extended the concessionaire’s debarment to PNC Infratech, preventing the company from participating in bidding for NHAI projects and projects of the Ministry of Road Transport and Highways for three years.

The company said its operations and those of its subsidiaries would continue normally following the court’s order. It added that any financial implications arising from the matter would be disclosed in due course. The stay provides temporary relief while the underlying proceedings continue before the court.

NHAI had issued a notice in August proposing to classify PNC Infratech as a non-performer, which would have made it ineligible to bid for future projects. The authority had also issued a show-cause notice in connection with proceedings related to the Kanpur-Lucknow Expressway.

The company had reported a steady first-quarter performance, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 42.6 per cent from a year earlier. EBITDA margins expanded by more than 500 basis points during the quarter.

In its post-earnings commentary, PNC Infratech said the show-cause proceedings concerning the Kanpur-Lucknow Expressway remained pending. It also reported stronger execution of newly awarded highway projects. The stock was trading 4 per cent higher at Rs. 161.68 on Wednesday after gaining more than 13 per cent in the previous session.