Afcons Infrastructure is expected to see increased attention in the stock market on November 22 after receiving a Letter of Acceptance (LoA) from the Uttarakhand Project Development and Construction Corporation (UPDCC). The LoA is for civil and hydromechanical works related to the construction of a 130.6-meter-high concrete gravity dam as part of the Song Dam Project across the River Song in Dehradun, Uttarakhand.
The total project cost is Rs 1,274 crore, with a planned completion timeline of 60 months (5 years). This project is a significant addition to the company’s growing order book.
A meeting of the Board of Directors of the Company is scheduled on 23rd November 2024, to consider and approve unaudited standalone and consolidated financial results for the quarter and half-year ended 30th September 2024.
Afcons Infrastructure earlier this month had also emerged as the L1 bidder for a Rs 1,007 crore- contract awarded by Madhya Pradesh Metro Rail Corporation Limited.
Afcons shares were listed at Rs 426 per share, about 8% lower than the offer price of Rs 463, but recent developments like these project wins may boost investor sentiment.
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Source: Moneycontrol
News Desk
