Afcons Infrastructure shares rally nearly 4% as company bags Rs 1,274 crore work order
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Shares of Afcons Infrastructure rallied 3.7% to a day’s high of Rs 506 on the BSE after the company received a work order worth Rs 1,274 crore from the Government of Uttarakhand. “We are pleased to inform you that the Company has received Letter of acceptance dated November 21, 2024 from Uttarakhand Project Development and Construction Corporation Ltd for Civil Works including HM Works for the Construction of 130.6 m High Concrete Gravity Dam and Appurtenant Works across River Song of Song Dam Project in District Dehradun, Uttarakhand,” the company said in its press release. The construction engineering company was declared the lowest bidder for the project, which will be completed in 60 months. The company’s board will meet on November 23 to announce its quarterly results. Afcons Infrastructure made its debut on BSE and NSE on November 4. The company’s muted debut was in line with analyst expectations, driven by negative market sentiment...