Afcons Infrastructure shares rise 3% as company wins Rs 700 crore contract from Reliance Industries
By Aditya Bhagchandani Published on June 9, 2025, 09:33 IST
Shares of Afcons Infrastructure Limited rose nearly 3% on Monday, extending gains for the third consecutive session, after the company announced it has secured a major contract from Reliance Industries. At 9:18 AM, the stock was quoting at ₹446.30, up ₹11.25 or 2.59% on the BSE.
In an exchange filing, the company said it received a Letter of Award (LoA) from Reliance Industries for executing construction works related to the Vinyl Projects in Dahej, Gujarat. The scope includes civil, mechanical, installation, testing, and commissioning works. The total value of the contract is pegged at ₹700 crore.
This development follows Afcons' position as the lowest bidder (L1) in May for a ₹463.50 crore water supply project involving 353 villages in Rajasthan's Dungarpur district.
Afcons shares have a 52-week high of ₹570 and a low of ₹382.40. The current price is around 21.7% below the 52-week high and 16.7% above the low. The company's market cap stands at ₹16,322.8 crore.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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