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₹6,800-cr order lifts Afcons Infrastructure share price 4% today; details
Around 11:00 AM, Afcons Infrastructure scrip was trading 1.31 per cent higher at ₹422 per share. By comparison, BSE Sensex was trading 0.62 per cent higher at 81,751.14 levels.
Why did Afcons Infrastructure share price rise today?
The uptick in the shares of Shapoorji Pallonji Group's flagship company, Afcons Infrastructure, came after the company emerged as the Lowest Bidder (L1) for a project worth approximately ₹6,800 crore.
In an exchange filing, Afcon Infrastructure said, 'We are pleased to inform you that Afcons Infrastructure Limited has been declared the Lowest Bidder (L1) for by HŽ Infrastruktura d.o.o. (HŽ Infrastructure Ltd) for rehabilitation & construction of a Railway line in the Republic of Croatia.'
The project involves the reconstruction and construction of a second track on the Dugo Selo-Novska railway line. The scope includes overhead electrification, signalling, and telecommunication works.
The estimated value of the contract is EUR 677.07 million (approximately ₹6,800 crore), and it will be executed on a BOQ/Item rate basis with a completion timeline of 72 months.
Afcons Infrastructure IPO listing
Afcons Infrastructure made a quiet debut on the bourses on November 4, 2024. On the BSE, the scrip listed at ₹430.5, reflecting a discount of 7.01 per cent against the IPO issue price of ₹463. Similarly, on the National Stock Exchange (NSE), Afcons Infrastructure listed at a discount of 7.99 per cent at ₹426 against the IPO issue price.
About Afcons Infrastructure
Afcons Infrastructure, a part of the renowned Shapoorji Pallonji Group, is one of India's leading infrastructure, engineering, and construction companies. Known for its expertise in executing complex EPC (Engineering, Procurement, and Construction) projects, Afcons plays a vital role in developing critical infrastructure across sectors.
The company's diverse portfolio spans marine and industrial facilities, surface transport projects such as roads and highways, urban infrastructure including metros and flyovers, as well as hydro, tunneling, and oil & gas infrastructure. With a strong global footprint, Afcons has successfully delivered major projects in Asia, Africa, and the Middle East.
The market capitalisation of Afcons Infrastructure is ₹15,720.95 crore, according to BSE. The company falls under the BSE 500 index category.
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