European shares tick higher with tariffs, BoE meeting in focus
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Business Standard
6 minutes ago
- Business Standard
Afcons Infrastructure shares rise 4% after posting Q1 results; Details
Afcons Infrastructure shares rose 4.2 per cent on Monday, August 11, 2025, and logged an intra-day high at ₹424 per share on BSE. The buying interest on the counter came after the company posted Q1 results on Friday, after market hours. At 10:36 AM, Afcons Infrastructure share price was up 3.98 per cent at ₹423 per share on BSE. In comparison, the Sensex was 0.34 per cent higher at 80,131.41. Afcons Infra Q1 results In Q1, Afcons Infrastructure reported a consolidated profit after tax (PAT) of ₹137 crore, as compared to ₹92 crore year-on-year (Y-o-Y), up 50 per cent. The company's consolidated revenue from operations in the first quarter stood at ₹3,370 crore, as against ₹3,154 crore in the year-ago period, up 6.8 per cent. The Earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at ₹445 crore, as compared to ₹372 crore, up 19.6 per cent. Ebitda margin stood at 13 per cent, as against 11.6 per cent a year ago. In Q1 FY26, the company received orders worth ₹1,093 crore. In July 2025, it emerged as L1 in three road and rail projects in Croatia worth ₹11,321 crore. With this, the total L1 stands at ₹21,556 crore. Check List of Q1 results today Our sustained efforts to make an entry in European markets bore fruits with us becoming L1 in multiple large orders in Croatia. This is in line with our strategy of focusing on large orders and expanding our presence in overseas markets,' said Subramanian Krishnamurthy, executive vice chairman (Whole-time Director), Afcons Infrastructure. He added: We are excited by the growth opportunities available both domestically and internationally. We believe that our consistent financial performance, including a sturdy margin profile, positions us well to deliver value to our shareholders. We will continue to remain disciplined in our bidding and financing decisions while focusing on growth. Nuvama Institutional Equities has maintained 'Buy' on the stock with a revised target of ₹523 per share from ₹535. 'While Afcons remains a sterling Engineering, Procurement, and Construction (EPC) player (refer to In a league of its own), execution growth is contingent on payment trajectory. We are cutting FY26E/27E EPS by 2 per cent/5 per cent due to stretched working capital cycle,' the brokerage noted.
Business Standard
6 minutes ago
- Business Standard
Nifty above 24,400 level; PSU Bank shares jump
The key equity benchmarks traded with modest gains in the morning trade. The Nifty traded hovered above the 24,400 level. Investors awaited for economic data releases, including WPI, CPI and trade balance, scheduled for later this week. PSU Bank shares advanced after declining the past trading session. At 10:25IST, the barometer index, the S&P BSE Sensex advanced 242.14 points or 0.31% to 80,098.88. The Nifty 50 index added 73.95 points or 0.31% to 24,439.80. In the broader market, the S&P BSE Mid-Cap index rose 0.34%, while the S&P BSE Small-Cap index remained unchanged 0.00%. The market breadth was negative. On the BSE, 1,602 shares rose and 1,756 shares fell. A total of 136 shares were unchanged. Earnings Today: Ashoka Buildcon (down 4.42%), Astral(up 0.33%), Awfis Space Solutions(up 0.92%), Bajaj Consumer Care(down 0.98%), Bata India(up 0.06%), Belrise Industries (down 1%), BEML(up 2.17%), Capacite Infraprojects(down 0.36%), Cello World(down 2.05%), Dollar Industries(down 0.46%), Esab India(down 0.66%), Eureka Forbes(down 0.10%), Goldiam International(up 1.30%), Goodyear India(down 0.04%), HLE Glascoat(down 1.25%), Ipca Laboratories(down 1.52%), JM Financial (down 0.45%), KNR Constructions(down 0.93%), Krsnaa Diagnostics(down 1.23%), Man Industries (India)(down 1.48%), Muthoot Microfin (down 1.82%), Som Distilleries & Breweries(up 0.71%) will announce their result later today. Buzzing Index: The Nifty PSU Bank index advanced 1.64% to 6,994.15. The index dropped 0.41% in the past trading session. Indian Bank (up 2.37%), State Bank of India (up 2.03%), Bank of Baroda (up 1.62%), Bank of India (up 1.43%), Union Bank of India (up 1.36%), Punjab National Bank (up 1.28%), Canara Bank (up 1.12%), Punjab & Sind Bank (up 0.36%), Indian Overseas Bank (up 0.11%) and Central Bank of India (up 0.03%) surged. Stocks in Spotlight: Jupiter Wagons (JWL) rose 0.71%. The company said that it has bagged an order worth Rs 242.41 crore from GATX India for the manufacturing and supply of 583 specialised wagons. Jyoti Structures climbed 2.99% after the company secured a Rs 639 crore order for 765 kV and 400 kV transmission line projects in India on a turnkey engineering, procurement, and construction (EPC) basis.
Economic Times
6 minutes ago
- Economic Times
China's Ab&B Bio-Tech shares soar 170% driven by retail demand
Shares of China's Ab&B Bio-Tech gained nearly 170% on Monday, as the vaccine development firm debuted on the Hong Kong Stock Exchange after it raised $55 million in an initial public offering. ADVERTISEMENT The retail tranche of the IPO was nearly 4,000 times oversubscribed by investors, the company's filings showed. The share hit a high of HK$34.80 in early trade, with about 7.68 million Ab&B Bio-Tech shares worth HK$253.8 million ($32.33 million) changing hands on the Hong Kong Stock Exchange. The Hang Seng Index was up 0.2% on Monday. Ab&B Bio-Tech, which is developing influenza and rabies vaccines, sold 33.44 million shares at HK$12.90 each, according to the filings. The price set was at the bottom of the range flagged to investors when the deal was launched. The strong demand from Hong Kong's retail investors meant 651,600 shares due to be sold to institutional investors were re-allocated to those public investors, the filings showed. ADVERTISEMENT There were nearly 192,000 applications from retail investors to buy stock and 18,984 of those were allocated shares. Despite the retail buying, weak demand from institutions meant the institutional portion of the deal was only just covered. ADVERTISEMENT ($1 = 7.8498 Hong Kong dollars). (You can now subscribe to our ETMarkets WhatsApp channel)
