Shapoorji Pallonji Group stock to be in focus on Tuesday on bagging ₹6,800 crore order. Details here
The order involves the reconstruction of the existing railway line and construction of a second track on the Dugo Selo–Novska section, including overhead electrification, signaling, and telecommunication works.
This marks the company's second order win in less than a week. On July 18, it had emerged as the lowest bidder for two road construction packages in Croatia worth ₹ 4,535 crore.
Afcons has been securing significant orders in recent months. In early June, it received a ₹ 700 crore contract from Reliance Industries for construction work related to its Vinyl Projects in Dahej, Gujarat. In May, the company was declared the lowest bidder (L1) for a ₹ 463.50 crore water supply project covering 353 villages in Dungarpur district, titled 'Kadana Back Water (Mahi Dam) Package-1.'
Afcons Infrastructure debuted on Indian stock exchanges in November last year, with its shares listing at ₹ 426.00 apiece, an 8% discount to the issue price of ₹ 463, as the IPO saw lukewarm demand from retail investors.
Since its listing, the stock has remained volatile. At the current trading price of ₹ 418 apiece, it is down about 10% from the IPO price and nearly 26.6% below its recent high of ₹ 570.
Despite the stock's lack of clear upward direction, analysts remain optimistic about the company's growth prospects, citing its growing order book, strong track record in executing complex and unique EPC projects both in India and abroad, and stable financial performance over the years.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NDTV
14 minutes ago
- NDTV
"In Securing Our Energy Needs...": India's Calm Reply To US' Russia Oil Fury
New Delhi: India has issued a measured reply to US' criticism of its continued Russian oil purchases. "In securing our energy needs, we are guided by what is on offer in the market and the prevailing global circumstance," Foreign Ministry spokesperson Randhir Jaiswal said Friday. The US has ramped up pressure on India to stop buying Russian oil, arguing it amounts to funding Vladimir Putin's war on Ukraine. Secretary of State Marco Rubio called the purchases "a point of irritation" in comments this morning, as Delhi and Washington toil to secure a trade deal and scale down Donald Trump's 25 per cent 'reciprocal tariff'. Rubio acknowledged India's vast energy needs - analysts expect crude oil demand from the world's fourth largest economy to cross 6.6 million barrels per day by 2030 - and that it was buying oil and gas from Russia because the sanction-hit country is offering steep discounts. "But that, unfortunately, is helping to sustain the Russian war effort. So, it is most certainly a point of irritation in our relationship with India," he told American broadcaster Fox News. Trump, he said, expressed "very clear frustration… with so many vendors available India continues to buy so much from Russia, which in essence is helping to fund the war effort…" Rubio's comments follow Trump's scathing remarks about Delhi still buying crude and gas from Moscow. The US President pointed out Russian oil accounted for 35 per cent of India's supply in the first half of the year, and demanded it, instead, buy from his country. On Thursday Trump decreed a 25 per cent 'reciprocal tariff' on Indian goods imported into the US and levied an unspecified penalty for buying Russian oil and weapons. NDTV Explains | The Story Behind Donald Trump's 25% 'Reciprocal Tariff' On India "... they (India) have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy... at a time when everyone wants Russia to stop the killing in Ukraine. India will, therefore, be paying a tariff of 25 per cent, plus a penalty..." The new tariff - to which India will not retaliate, at this time - came into effect this morning. India has always said Russia is a 'close, all-weather friend", and that it will not be bullied, by any country, into re-defining decades-old foreign policies and current economic concerns. In the past - when faced with criticism over buying Russian oil - External Affairs Minister S Jaishankar said, quite categorically, that India would prioritise its citizens' needs first. READ | US Penalty On Buying Russian Oil. What Is India's Stance This, he said, would mean buying oil from anyone who sells at the best possible price. "India is a big oil consumer... We are a big oil importer because we don't have oil. Now, it is not like there is a political strategy to buy oil... There is an oil strategy to buy oil... There is a market strategy," Mr Jaishankar said in August 2024. Prior to the war in Ukraine, India rarely bought Russian crude due to high freight costs. By 2023, though, Moscow was selling about 1.66 million barrels per day, up from less than 700,000 in 2022. India eventually became the biggest buyer of seaborne Russian crude since the West halted purchases and imposed sanctions against Moscow. In an effort to placate Trump, India committed, in February, when Prime Minister Narendra Modi met Trump in Washington, to buy more oil and gas from the US, which will also help, to some extent, hit the ambitious mark of $500 billion in bilateral trade within the next five years. However, the sheer volume of India's energy demands means the US cannot be the sole, or even a major, supplier. As of today, India's largest are Iraq, Saudi Arabia, and Russia.
Time of India
14 minutes ago
- Time of India
Hyundai overtakes Mahindra in July, reclaims 2nd spot
Hyundai Motor India climbed to the second position in retail sales for the first time in FY26, overtaking Indian auto majors Mahindra & Mahindra and Tata Motors , as per Vahan data (as of 1:30pm, August 1). The South Korean automaker reported retail sales of 42,661 units in July, allowing it to reclaim its lost market position this fiscal. The contest, however, remained neck-and-neck, with Mahindra & Mahindra slipping to third position with 41,476 units, a marginal difference of just over 1,100 units between the two players. Mahindra's market share dipped from 14 per cent in June (with 42,314 units) to 12.8 per cent in July. The drop comes after the company implemented a price hike of up to 3 per cent across its SUV and commercial vehicle portfolio in Q1 FY26, citing rising input and commodity costs. Hyundai, on the other hand, improved its market share slightly from 12.9 per cent (39,201 units) in June to 13.2 per cent in July. The uptick reflects an easing of supply constraints and a recovery in demand. Tarun Garg, COO of Hyundai Motor India, had earlier acknowledged a challenging Q1 due to geopolitical tensions but expressed confidence in a stronger performance in the upcoming months. Top 5 OEMs Retail Sales: July 2025 MS (%)June 2025OEMsRankOEMsJuly 2025MS (%)39118218Maruti Suzuki1Maruti Suzuki1,28,42339.81442314M&M2Hyundai42,66113.212.939201Hyundai3M&M41,47612.812.335344Tata Motors4Tata Motors39,79511.77.823665Toyota5Toyota24,7777.7 (Source: Vahaan) Tata Motors remained on the fourth spot with 39,795 units in July. Its market share slipped from 12.3 per cent in June to 11.7 per cent in July, continuing its recent trend of fluctuating performance in the passenger vehicle segment. Japan-based automaker Toyota Kirloskar Motor held on to its fifth position in July 2025, recording sales of 24,777 units. The company's market share stood at 7.7 per cent, a marginal dip from 7.8 per cent in June, when it sold 23,665 units. Maruti Suzuki maintained a comfortable lead at the top, retailing 1,28,423 units and capturing nearly 40 per cent of the passenger vehicle market in July. As the festive season approaches, OEMs are expected to ramp up launches and promotions. With margins tightening and demand patterns shifting, the second quarter may see more reshuffling among the top players in India's competitive auto market.
The Hindu
14 minutes ago
- The Hindu
India-U.S. partnership has weathered several transitions, challenges: MEA
On a day when U.S. President Donald Trump signed an executive order to levy 25% tariff on Indian imports, the Ministry of External Affairs has said the partnership between both the nations has 'weathered several transitions and challenges.' We remain focused on substantive agenda that India and U.S. have committed to, Randhir Jaiswal, official spokesperson, Ministry of External Affairs during a weekly media briefing in New Delhi on Friday (August 1, 2025). Expressing confidence that the India-U.S. ties will continue to move forward, Mr. Jaiswal said, 'India, US share comprehensive global strategic partnership anchored in shared interests, democratic values, robust people-to-people ties.' He also pointed out that the defence ties between India and the United States have strengthened over the last several years. 'There is potential for India-US defence partnership to grow further,' he added. On reports that Washington is unhappy with India buying oil from Russia, the Ministry Spokesperson said India is guided by what is on offer in markets and prevailing global situation, in securing the nation's energy needs.
