Afcons Infrastructure shares reached a new 52-week high of Rs 561.75 during the opening trade on December 16 after the company received a Letter of Acceptance from Madhya Pradesh Metro Rail Corporation for the Bhopal Metro Rail Project.
By 9:27 am, the company’s shares were trading at Rs 552.10, reflecting a rise of Rs 29.45 or 5.63 percent on the BSE.
Designing and construction of an elevated viaduct, 13 elEvated Metro Stations and Depot Entry including design, supply and erection and related Works for the Bhopal Metro Rail Project on design-build Lump sum basis The Total Value: INR 1006.74cr Total Completion: 36 Months.
Last week, the company’s joint venture, Afcons–Hindustan, emerged as the lowest bidder for a water supply project in 353 villages of Dungarpur district in Rajasthan. The project valued at over Rs 503 crore has a concession period of 10 years after a defect liability period of one year.
The company has recently completed the longest tunneling drive between the Tughlakabad Airforce Launching Shaft and Maa Anandmayee Marg Station, as part of the Tughlakabad-Aerocity corridor in Delhi Metro Phase IV.
This was followed, in November, with an Afcons Infrastructure securing the LoA for Rs 1,274 crore Song Dam Project, in Uttarakhand; this envisages the undertaking civil and hydromechanical works to develop the concrete gravity dam at L. 130.6 metre in height across river song, flowing into Bhagirathi – dist. Dehradun, State of Uttarakhand.
The company’s shares were listed on November 4 at a discount of nearly 8 percent, with an opening price of Rs 426 per share against its offer price of Rs 463.
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Source: Moneycontrol
News Desk
