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This small-cap stock may be in focus on Monday after an order win from Reliance Industries. Do you own?
Small-cap stock Afcons Infrastructure may attract significant investor interest on Monday, June 9, after winning an order from Reliance Industries for construction work related to the Vinyl Projects at Dahej, Gujarat.
In an exchange filing on Saturday, June 7, "We are pleased to inform that Afcons Infrastructure Limited has been awarded a letter of award (LoA) from Reliance Industries Limited for the execution of construction works related to the Vinyl Projects at Dahej, Gujarat."
The scope of work includes civil, mechanical and associated works with installation, testing and commissioning works. The estimated value of the contract, excluding GST, is ₹ 700 crore, said the company.
Afcons Infrastructure is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group.
Meanwhile, the company's March quarter (Q4FY25) results came on a weaker side. Its Q4FY25 revenue from operations stood at ₹ 3,223.27 crore from ₹ 3,636.43 crore in Q4FY24.
Profit after tax (PAT) for the quarter under review came at ₹ 110.92 crore from ₹ 144.90 crore year-on-year.
Diluted earnings per share for Q4FY25 stood at ₹ 3.02 from ₹ 4.25 in Q4FY24.
The small-cap stock has been under pressure over the last year, falling 8 per cent. The pressure has intensified this year as year-to-date, the stock has plunged 19 per cent.
It hit a 52-week low of ₹ 382.40 on April 7 this year after hitting a 52-week high of ₹ 570 on January 3.
On a monthly scale, the stock has climbed nearly 3 per cent in June so far after a 1 per cent gain in May.
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
