1 week Ago By Moneycontrol
Afcons Infra share price jumped 7 percent intraday in Friday's trading after the infrastructure engineering and construction company informed the shareholders on bagging a mega DRDO order worth over Rs 1,000-crore. "Afcons Infrastructure Limited has received a Letter of Intent from the Govt of India, Ministry of Defence, Defence Research and Development Organisation (DRDO) for the execution of work related to the augmentation of MTC, creation of SAF, and workshop equipment for the ship lift facility (AMCSWF) at Visakhapatnam," the company said in a regulatory filing on January 3. The announcement led to sharp uptick in share price of Afcons Infra with the counter touching a fresh high of Rs 570 per share on the NSE, rising 6.
62 percent from its previous close. At around 12:30, the stock was trading at Rs 553.90 apiece, up 3.
61 percent. Afcons Infra shares debut at 8% discount to list at Rs 426 apiece on NSE The order worth Rs 1084.54 crore will be executed in 3 years, the company said in a statement.
Afcons Infra shares were listed at Rs 426 per share against its offer price of Rs 463 apiece, a discount of 7.99 percent on November 4. The stock is up 33.
80 percent from its listing price of Rs 426. Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
.
