This small-cap stock may be in focus on Monday after an order win from Reliance Industries. Do you own?
Small-cap stock Afcons Infrastructure may attract significant investor interest on Monday, June 9, after winning an order from Reliance Industries for construction work related to the Vinyl Projects at Dahej, Gujarat.
In an exchange filing on Saturday, June 7, "We are pleased to inform that Afcons Infrastructure Limited has been awarded a letter of award (LoA) from Reliance Industries Limited for the execution of construction works related to the Vinyl Projects at Dahej, Gujarat."
The scope of work includes civil, mechanical and associated works with installation, testing and commissioning works. The estimated value of the contract, excluding GST, is ₹ 700 crore, said the company.
Afcons Infrastructure is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group.
Meanwhile, the company's March quarter (Q4FY25) results came on a weaker side. Its Q4FY25 revenue from operations stood at ₹ 3,223.27 crore from ₹ 3,636.43 crore in Q4FY24.
Profit after tax (PAT) for the quarter under review came at ₹ 110.92 crore from ₹ 144.90 crore year-on-year.
Diluted earnings per share for Q4FY25 stood at ₹ 3.02 from ₹ 4.25 in Q4FY24.
The small-cap stock has been under pressure over the last year, falling 8 per cent. The pressure has intensified this year as year-to-date, the stock has plunged 19 per cent.
It hit a 52-week low of ₹ 382.40 on April 7 this year after hitting a 52-week high of ₹ 570 on January 3.
On a monthly scale, the stock has climbed nearly 3 per cent in June so far after a 1 per cent gain in May.
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
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Time of India
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Play Video Play Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 32:19 Loaded : 0.54% 00:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 32:19 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo But as an Executive Director, Anant, 30, will be entitled to salary and other prerequisites. Reliance in a stock exchange notice on Sunday said shareholder approval for the appointment has been sought through a postal ballot. Live Events The appointments in 2023 were part of a succession planning at India's most valuable company, which many saw as Ambani's attempt to avoid the sibling fued that followed his father's death in 2002. Isha is on the board of Reliance Retail and joined that of the newly spun-off Jio Financial Services, Akash chairs telecoms. Anant is part of the materials and renewable energy ventures. They operate alongside professional managers. In the postal ballot, Reliance said Anant's "salary, perquisites and allowances shall be in the range of Rs 10 crore to Rs 20 crore per annum." 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Mukesh Ambani had in August 2023 announced the induction of his three children on the board of oil-to-telecom conglomerate as non-executive directors, in preparation of an eventual succession plan. This followed his statements that the children would have significant roles at Reliance, India's most valuable and profitable company. Unlike Mukesh Ambani, who had to drop out of Stanford to look after his father's business, twins Isha and Akash graduated from Yale and Brown, respectively. Eldest son Akash joined the leadership team at the group's telecom unit Jio in 2014 after completing college. He was made the chairman of the telecom arm, Jio Infocomm, in June 2022. He also manages the Mumbai Indians cricket team in the cash-rich Indian Premier League. Isha drives the company's retail, e-commerce and luxury businesses. She is said to be behind the firm's expanding presence in fashion through the company's e-commerce app as well as its growing partnerships with top international luxury brands. Anant is involved in Reliance's energy businesses, which range from fossil fuels to developing solar panel manufacturing. A graduate of Brown University, he also serves on the board of Reliance Foundation - the group's philanthropic arm - alongside his mother. All three children are on board of Jio Platforms , the unit that holds telecom and digital properties of Reliance, and Reliance Retail. "Anant M. Ambani serves as a director on the Board of the company and its key subsidiaries Jio Platforms Limited, Reliance Retail Ventures Limited," the Reliance notice said. 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