Introduction:
Infrastructure company has received a major project from Uttarakhand’s development corporation for constructing a 130.6m high concrete gravity dam on the River Song. Valued at ₹1,274 crore, the project includes civil and HM works with a 60-month timeline.
Share price movement of Afcons Infrastructure Ltd:
On November 22, 2024, Afcons Infrastructure Ltd opened at ₹504.05, reflecting a 3.31% increase from its previous close of ₹487.85. The stock reached an intraday high of ₹506.00, up 3.70%, and a low of ₹477.20, down 2.18%.
The stock closed at ₹489.05, showing a 0.25% increase. The market capitalization stood at ₹17,986.51 crore.
Afcons wins ₹1,274 crore dam project:
Afcons Infrastructure Limited has received a Letter of Acceptance from Uttarakhand Project Development and Construction Corporation Ltd for the construction of a 130.6m high concrete gravity dam on the River Song, located in Dehradun.
The project, valued at ₹1,274 crore, involves civil and HM works, with a completion timeline of 60 months. The company was declared the lowest bidder for the project on September 28, 2024, although it was listed on November 4, 2024.
Afcons will undertake this prestigious project under an EPC mode, contributing to infrastructure development in Uttarakhand. The works include constructing the dam and its appurtenant structures across the River Song.
Recent news on Afcons Infrastructure Ltd:
As of November 4, 2024, Afcons Infrastructure Ltd made its stock market debut on the NSE. The company plans to use proceeds for equipment, working capital, debt repayment, and corporate purposes.
Stock performance of Afcons Infrastructure Ltd for Period of 1 week:
Afcons Infrastructure Ltd, which was listed recently, has recorded a 2.75% return over the past week, reflecting positive market movement.
Also Read: Infra stock in focus after it signs MoU with NTPC GE Power Services
Shareholding pattern of Afcons Infrastructure Ltd:
| All values in % | Oct 2024 |
| Promoter | 50.20% |
| FII | 8.20% |
| DII | 13.20% |
| Public | 28.40% |
About the company Afcons Infrastructure Ltd:
Afcons Infrastructure Ltd (NSE: AFCONS) is a leading infrastructure engineering and construction company, established in 1959. A key player in the Shapoorji Pallonji Group, it ranks among the top global contractors in the marine, bridges, transportation, and transmission sectors.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
