Latest news with #VinylProjects
Mint
10-06-2025
- Business
- Mint
Afcons Infra shares: Chenab Bridge inauguration puts focus on this Shapoorji Pallonji Group stock. Time to buy?
Afcons Infrastructure share price in focus: Afcons Infrastructure shares have been on the rise, gaining over 6% in three sessions, as investors cheered the company's role in constructing the iconic Chenab Bridge in Jammu and Kashmir, the world's highest railway bridge. The feat has drawn fresh attention to the Shapoorji Pallonji Group company, further boosted by multiple new order wins and a strengthening order book. Situated at a height of 359 meters above the Chenab River and built at a cost of ₹ 1,486 crore, the bridge is 35 meters taller than the iconic Eiffel Tower in Paris. It was inaugurated on Friday by Prime Minister Narendra Modi, along with the Anji Khad Bridge and the Udhampur-Srinagar-Baramulla Rail Link. Overcoming the initial challenges posed by the remote, mountainous terrain of the Himalayas, transporting equipment and materials to the site was a major hurdle. Afcons initially depended on mules and horses to access the location before eventually constructing temporary roads to ease the movement of men and machinery. As the iconic Chenab Rail Bridge garners global attention, one of the key contributors to its successful construction is Professor G. Madhavi Latha, a geotechnical expert from the Indian Institute of Science (IISc), Bengaluru, who was associated with the project for 17 years. G. Madhavi Latha worked closely with Afcons, the contractor of the bridge, in the planning, design, and construction of the structure, focusing on the obstacles posed by the terrain. Her commitment to the project has earned widespread praise, with congratulatory messages flooding social media—from Andhra Pradesh Chief Minister N. Chandrababu Naidu to Mahindra Group Chairman Anand Mahindra. Across platforms, people are applauding G. Madhavi Latha's crucial role in making this engineering marvel a reality. Amid the praise following the Chenab Bridge inauguration, Professor G. Madhavi Latha took to LinkedIn to express gratitude and clarify her role. She credited Indian Railways and Afcons for the project's success, highlighting the contributions of thousands behind the scenes. Downplaying media labels like 'the woman behind the mission,' she urged the public to recognise the many unsung heroes behind the engineering feat. Meanwhile, she recently published a paper in the Indian Geotechnical Journal's women's special issue titled 'Design as You Go: The Case Study of Chenab Railway Bridge.' The paper describes how the design of the bridge has evolved continuously, with the overall structure, location, and type being the only constants to suit the geological conditions of the site. The company has expanded its order book significantly in recent weeks, securing multiple new contracts — including a ₹ 700 crore order from Reliance Industries on Saturday. According to the company, this order involves construction work related to the Vinyl Projects at Dahej, Gujarat. Prior to this, on May 30, the company was declared the lowest bidder (L1) for a water supply project covering 353 villages in the Dungarpur district. The project, titled 'Kadana Back Water (Mahi Dam) Package-1,' is valued at ₹ 463.50 crore. 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 ₹ 463.00, as the IPO saw lukewarm demand from retail investors. Since its listing, the stock has remained volatile. At the current trading price of ₹ 447 apiece, it is down about 3.5% from the IPO price and nearly 21.6% 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. Commenting on the outlook for the stock, Jigar S Patel, Senior Manager - Technical Research, Anand Rathi Shares and Stock Brokers, said Afcons has recently broken above the key resistance level of 440, which coincides with the monthly R3 Camarilla pivot, indicating a potential shift in momentum. "If the stock manages to sustain above 440 for the next 2–3 sessions, it could pave the way for an upward move towards 480. In the short term, support is seen near 430, while resistance lies around 460," Patel said.
Mint
10-06-2025
- Business
- Mint
Afcons Infra shares: Chenab Bridge inauguration puts focus on this Shapoorji Pallonji Group stock
Afcons Infrastructure share price in focus: Afcons Infrastructure shares have been on the rise, gaining over 6% in three sessions, as investors cheered the company's role in constructing the iconic Chenab Bridge in Jammu and Kashmir, the world's highest railway bridge. The feat has drawn fresh attention to the Shapoorji Pallonji Group company, further boosted by multiple new order wins and a strengthening order book. Situated at a height of 359 meters above the Chenab River and built at a cost of ₹ 1,486 crore, the bridge is 35 meters taller than the iconic Eiffel Tower in Paris. It was inaugurated on Friday by Prime Minister Narendra Modi, along with the Anji Khad Bridge and the Udhampur-Srinagar-Baramulla Rail Link. Overcoming the initial challenges posed by the remote, mountainous terrain of the Himalayas, transporting equipment and materials to the site was a major hurdle. Afcons initially depended on mules and horses to access the location before eventually constructing temporary roads to ease the movement of men and machinery. As the iconic Chenab Rail Bridge garners global attention, one of the key contributors to its successful construction is Professor G. Madhavi Latha, a geotechnical expert from the Indian Institute of Science (IISc), Bengaluru, who was associated with the project for 17 years. G. Madhavi Latha worked closely with Afcons, the contractor of the bridge, in the planning, design, and construction of the structure, focusing on the obstacles posed by the terrain. Her commitment to the project has earned widespread praise, with congratulatory messages flooding social media—from Andhra Pradesh Chief Minister N. Chandrababu Naidu to Mahindra Group Chairman Anand Mahindra. Across platforms, people are applauding G. Madhavi Latha's crucial role in making this engineering marvel a reality. Amid the praise following the Chenab Bridge inauguration, Professor G. Madhavi Latha took to LinkedIn to express gratitude and clarify her role. She credited Indian Railways and Afcons for the project's success, highlighting the contributions of thousands behind the scenes. Downplaying media labels like 'the woman behind the mission,' she urged the public to recognise the many unsung heroes behind the engineering feat. Meanwhile, she recently published a paper in the Indian Geotechnical Journal's women's special issue titled 'Design as You Go: The Case Study of Chenab Railway Bridge.' The paper describes how the design of the bridge has evolved continuously, with the overall structure, location, and type being the only constants to suit the geological conditions of the site. The company has expanded its order book significantly in recent weeks, securing multiple new contracts — including a ₹ 700 crore order from Reliance Industries on Saturday. According to the company, this order involves construction work related to the Vinyl Projects at Dahej, Gujarat. Prior to this, on May 30, the company was declared the lowest bidder (L1) for a water supply project covering 353 villages in the Dungarpur district. The project, titled 'Kadana Back Water (Mahi Dam) Package-1,' is valued at ₹ 463.50 crore. 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 ₹ 463.00, as the IPO saw lukewarm demand from retail investors. Since its listing, the stock has remained volatile. At the current trading price of ₹ 447 apiece, it is down about 3.5% from the IPO price and nearly 21.6% 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.
Business Standard
09-06-2025
- Business
- Business Standard
Afcons Infra gains after bagging Rs 700-cr RIL contract for Dahej Vinyl Project
Afcons Infrastructure added 2.10% to Rs 443 after the firm has received a letter of award (LoA) from Reliance Industries (RIL) worth Rs 700 crore for the execution of construction works related to the Vinyl Projects at Dahej, Gujarat. Shares of Reliance Industries rose 0.47% to Rs 1,450.30 on the BSE. The scope of work includes civil, mechanical and associated works with installation, testing and commissioning works. The project will be executed on a BOQ (Bill of Quantities) basis, with a scheduled completion timeline set for the end of June 2026. Afcons Infrastructure is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate. It has a legacy of over six decades, with a strong track record of executing numerous technologically complex EPC projects both within India and internationally. Reliance Industries (RIL) is the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
Business Standard
09-06-2025
- Business
- Business Standard
Afcons Infrastructure secures work order worth Rs 700 cr
For construction works at RIL's Vinyl Projects in Dahej, GujaratAfcons Infrastructure has been awarded a Letter of Award (LoA) from Reliance Industries 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 size of the contract is Rs 700 crore and the project is to be completed by end of June 2026. Powered by Capital Market - Live News
Time of India
09-06-2025
- Business
- Time of India
Afcons Infra shares jump 6% on Rs 700 crore LoA from Reliance Industries
Afcons Infrastructure share jumped nearly 6% to Rs 460.7 in Monday's trade on BSE after the company secured a work order from Reliance Industries . 'We are pleased to inform that Afcons Infrastructure Limited has been awarded a Letter of Award (LoA) from Reliance Industries Limited (RIL) for the execution of construction works related to the Vinyl Projects at Dahej, Gujarat,' the company said in an exchange filing. The scope of work includes civil, mechanical , and associated works involving installation, testing , and commissioning. The contract is valued at approximately Rs 700 crore. Also Read: Interest rate wars: Which central banks are cutting, which are hiking? Earlier in May, the company emerged as the lowest bidder (L1) for a water supply project covering 353 villages in Dungarpur district from Kadana Back Water (Mahi Dam) Package-1. The project is estimated at Rs 463.5 crore. Live Events Afcons Infrastructure Q4 earnings Afcons Infrastructure reported a 23% decline in consolidated net profit to Rs 110.92 crore for the quarter ended 31 March, compared to Rs 144.90 crore in the same period last year. Profit stood at Rs 148.85 crore in the previous quarter. Revenue from operations came in at Rs 3,223.27 crore in Q4FY25, down from Rs 3,636.43 crore a year earlier. Sequentially, revenue was Rs 3,211.10 crore. Also Read: Dixon Technologies, LIC Housing Finance among 10 mid-cap stocks analysts expect to gain up to 40% Afcons Infra share price target and performance According to Trendlyne, the average target price for Afcons Infra is Rs 543, indicating a potential upside of 21%. Among seven analysts tracking the stock, the consensus rating is 'Strong Buy'. As of 10:16 am, the stock was trading 3.1% higher at Rs 448.6 on the BSE. However, it has declined 14% over the past six months and 16% so far this year. Its current market capitalisation stands at Rs 16,498 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
