Afcons Infrastructure, the flagship infrastructure, engineering, and development firm of the Shapoorji Pallonji Group, introduced at present that it has emerged because the Lowest Bidder (L1) for the rehabilitation and development of a railway line within the Republic of Croatia, which is valued at ₹6800 crore. In a regulatory submitting, the corporate stated the undertaking was awarded by HŽ Infrastructure Ltd.
The order entails the reconstruction of the present railway line and development of a second observe on the Dugo Selo–Novska part, together with overhead electrification, signaling, and telecommunication works.
This marks the corporate’s second order win in lower than per week. On July 18, it had emerged because the lowest bidder for 2 highway development packages in Croatia value ₹4,535 crore.
Afcons has been securing important orders in current months. In early June, it acquired a ₹700 crore contract from Reliance Industries for development work associated to its Vinyl Initiatives in Dahej, Gujarat”> ₹700 crore contract from Reliance Industries for development work associated to its Vinyl Initiatives in Dahej, Gujarat. In late Could, the corporate was declared the bottom bidder (L1) for a ₹463.50 crore water provide undertaking overlaying 353 villages in Dungarpur district, titled “Kadana Again Water (Mahi Dam) Package deal-1.”
Afcons Infrastructure share value historical past
Afcons Infrastructure debuted on Indian inventory exchanges in November final 12 months, with its shares itemizing at ₹426.00 apiece, an 8% low cost to the problem value of ₹463, because the IPO noticed lukewarm demand from retail traders.
Since its itemizing, the inventory has remained risky. On the present buying and selling value of ₹418 apiece, it’s down about 10% from the IPO value and practically 26.6% under its current excessive of ₹570.
Regardless of the inventory’s lack of clear upward route, analysts stay optimistic concerning the firm’s development prospects, citing its rising order e-book, robust observe report in executing complicated and distinctive EPC initiatives each in India and overseas, and steady monetary efficiency over time.
Disclaimer: The views and suggestions given on this article are these of particular person analysts. These don’t signify the views of Mint. We advise traders to examine with licensed consultants earlier than taking any funding selections.
