Afcons Infra shares in focus after emerging lowest bidder for Rs 6,800-crore railway project in Croatia
Afcons Infra shares: HŽ Infrastruktura Ltd awarded the contract for the reconstruction of the existing track and the construction of a second line on the Dugo Selo–Novska railway route. The project also encompasses overhead electrification as well as signalling and telecommunication work.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Stock performance and outlook
Shares of Shapoorji Pallonji group firm Afcons Infrastructure will be in focus on Tuesday after the company announced it has emerged as the lowest bidder for a major railway project in the Republic of Croatia.The bid was awarded by HŽ Infrastruktura d.o.o. (HŽ Infrastructure Ltd) for the reconstruction of the existing track and construction of a second line on the Dugo Selo–Novska railway route . The project also includes overhead electrification and signalling & telecommunication work.The estimated contract value, excluding VAT, is €677 million (approximately Rs 6,800 crore). The work will be executed on a BOQ/item-rate basis, with a scheduled completion period of 72 months from the commencement date post-award.Earlier in May, Afcons Infrastructure said it had received a letter of commitment for a civil and structural contract worth Rs 175 crore from Reliance Industries for work at Jamnagar, Gujarat. The final value will depend on the actual work executed, as per the contract terms.On Monday, Afcons Infra shares ended 0.36% higher at Rs 418.70, tracking broader market gains. However, the stock has declined 17% over the past six months and is down 22% year-to-date.According to Trendlyne, the average target price for Afcons Infra is Rs 543, suggesting a potential upside of nearly 30% from current levels. Of the seven analysts covering the stock, most have a 'Strong Buy' rating.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
an hour ago
- Economic Times
Dalmia Bharat's profit surges nearly 3 times on improved pricing
Dalmia Bharat's consolidated net profit surged nearly three times on year in the June quarter to Rs 345 crore, helped by an improvement in net sales realisations, which offset the impact of lower sales volumes. ADVERTISEMENT The cement producer's sales volume fell nearly 6% on year to 7 million tonnes in the June quarter, which limited a growth in its consolidated revenue to 0.4% on year to Rs 3,636 crore. The topline grew despite a fall in sales volume as realisations improved by 6.6% on year to Rs 5,193 per tonne during the quarter. This also boosted the company's earnings before interest, tax, depreciation and amortization to an all-time high of Rs 883 crore, while the EBITDA made on each tonne of cement surged 40% on year to Rs 1,261. The profitability was also boosted by lower costs of logistics and power and fuel costs, as compared to the previous year. 'Beginning of this year marks a recovery in cement realizations in our key markets, which has helped us deliver robust EBITDA growth, resulting in an EBITDA margin of 24.3%, which is an increase of 5.8% percentage points compared to last year,' Puneet Dalmia, managing director of the company was quoted in a release. The company currently has a capacity of 49.5 million tonne and is targeting a capacity of 75 million tonne by FY28. Earlier this year, the company announced fresh capital investments of Rs 6,800 crore for adding 12 million tonne of capacity across its South and West regions. ADVERTISEMENT 'Backed by a robust balance sheet, a disciplined capital allocation framework and healthy profitability outlook, we are steadily progressing towards our vision of becoming a PAN-India player,' chief financial officer Dharmender Tuteja company announced its earnings after market hours, and its shares closed at Rs 2,319.15 rupees on the BSE, up 2.5% from the previous close. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
an hour ago
- Time of India
LMC's move to link waste charge, house tax irks residents
Lucknow: The Lucknow Municipal Corporation's (LMC) move to link waste collection fees directly to property house tax IDs has drawn criticism from the residents, who have highlighted the inconsistency in services across the city. The new charges — Rs 50 per month for properties with an annual house tax up to Rs 5,000, and Rs 100 for those above — are now mandatory across the city, irrespective of service coverage. While the LMC has offered a 10% discount on advance online payments, the charge will be added to the property tax ledger if left unpaid. The move has triggered criticism. In colonies like Manas Vihar, Suggamau, Takrohi, Chinhat, Faizullaganj, Pandit Kheda, Sarojininagar, and Kesari Kheda, as well as Mahanagar, Gomtinagar and Rajajipuram, residents raised the issue of irregular garbage collection. They said people already pay Rs 100-200 per month to private waste collectors. Now, they fear they will have to pay to private collectors as well as the LMC. "The garbage collection is not regular in the area. The LMC workers come every two or three days for the collection," said Ajay Singh, a resident of Dewa Road, Chinhat. Another resident of Sarojininagar, Vijay Kumar, said, "There is no one from LMC collecting the waste from the houses. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo Now we have come to know that the user charge will be included in the tax. This is not acceptable." Vishwas Awasthi, a resident from Aashiana, said, "First, LMC has to provide the facility of garbage collection, then include the user charge into the property tax." Mukesh Singh Chauhan, corporator, said, "The mandatory user charge should only be implemented once the garbage collection system is properly rectified." Kamran Baig, another corporator said, "In areas where private vendors are collecting garbage, LMC should not take user charges." LMC officials saidlinking the fee with house tax IDs will improve transparency and help fund better waste management. They admit implementation gaps exist but insist the move is necessary for long-term improvements.
Time of India
an hour ago
- Time of India
20% of artisans complete training under Vishwakarma scheme
Pune: As many as 5,974 artisans of the total 29,000 from Pune district registered for the Vishwakarma Scheme have completed the training programme. Around 7,934 artisans have completed the three-stage verification, while 1,960 applications for training are pending. Tired of too many ads? go ad free now Close to 3,768 artisans filed applications with banks seeking loans, of which 998 applications were approved, totalling Rs 10 crore. The PM Vishwakarma Yojana is designed to offer comprehensive support to artisans and craftspeople working with traditional tools. The scheme aims to provide them with skill upgradation and relevant and suitable training opportunities, along with credit access. "We have provided 964 toolkits to the artisans under the scheme so far," Satish Kharat, district village industries officer, said. Most of the registrations are from artisans in trades such as toymaking, garlandmaking, goldsmiths, tailoring, cobblers, and washermen. Sandip Lokhande, who runs a centre to implement the scheme, said although the scheme is extremely beneficial to the artisans, there is a need to ease the process. "The registration process is lengthy as applications are routed through Pune Municipal Corporation (PMC) and Pimpri Chinchwad Municipal Corporation (PCMC). Many people face problems linking bank accounts with Aadhaar cards," he said. After registration, artisans have to travel from Pune to Pimpri Chinchwad due to a lack of facilities. "Overall, there is a lack of trainers. Banks also reject loans because the artisan is a fresher or does not have an existing setup," Lokhande said.
