Shares of Afcons Infrastructure Limited rose nearly 3% on Monday, extending gains for the third consecutive session, after the company announced it has secured a major contract from Reliance Industries. At 9:18 AM, the stock was quoting at ₹446.30, up ₹11.25 or 2.59% on the BSE.
In an exchange filing, the company said it received a Letter of Award (LoA) from Reliance Industries for executing construction works related to the Vinyl Projects in Dahej, Gujarat. The scope includes civil, mechanical, installation, testing, and commissioning works. The total value of the contract is pegged at ₹700 crore.
This development follows Afcons’ position as the lowest bidder (L1) in May for a ₹463.50 crore water supply project involving 353 villages in Rajasthan’s Dungarpur district.
Afcons shares have a 52-week high of ₹570 and a low of ₹382.40. The current price is around 21.7% below the 52-week high and 16.7% above the low. The company’s market cap stands at ₹16,322.8 crore.
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