The shares of one of the leading infrastructure companies gained up to 2 percent after prominent investors like Goldman Sachs, Nomura & others bought 2.7 percent of the company.
With a market capitalization of Rs 17,732.74 crore, the shares of Afcons Infrastructure Ltd were trading at Rs 481.00 per share, increasing around 1.36 percent as compared to the previous closing price of Rs 474.55 apiece.
Reason for Rise:-
The shares of the company have seen positive movement after Goldman Sachs India Equity Portfolio, Jupiter India Fund, Nomura Funds Ireland India Equity Fund, and Nomura India Investment Fund Mother Fund bought 9.99 lakh equity shares together which is equivalent to a 2.7% stake in Afcons Infrastructure Ltd, this translation valued at Rs 449.08 crore.
Financial performance:-
Looking into Afcons Infrastructure Ltd’s performance, revenue plummeted by 1 percent from Rs 3,171 crore in Q1FY24 to Rs 3,154 crore in Q1FY25. During the same duration, net profit climbed by 1 percent from Rs 91 crore to Rs 92 crore.
Recent Developments & Order Book:-
On Monday, the company received a prestigious work order worth Rs 1,007 crore for the construction Package BH-05 of the Bhopal Metro Phase 1 project’s 12.915 km Blue Line (Line-2) which will connect Bhadbhada Chauraha – Ratnagiri Tiraha via 13 elevated stations, this order received from Madhya Pradesh Metro Rail Corporation Ltd.
The company’s interest is more on large, complex, and high-value projects with a strong track record in efficient project management, execution, and on-time delivery of projects across verticals and geographies. As of Q2FY25 Afcons Infrastructure Limited has a strong orderbook of Rs. 40,000 Crores.
Footprint & project:-
As of June 30, 2024, it had 65 active projects (i.e., ongoing projects) across 12 countries. Afcons claims to have a fleet of equipment, which includes heavy machinery and tools. As of June 30, 2024, this equipment base featured 11 marine barges, 153 cranes, 16 tunnel boring machines, eight large-capacity jackups, and 21 piling rigs.
The company has worked on projects like the Atal Tunnel, the Delhi-Meerut regional rapid transit system, the Delhi metro phase IV projects, and the second liquid cargo berth at Dahej, Gujarat, for Gujarat Chemical Port Limited.
IPO Details:-
Afcons Infrastructure Limited launched its Initial Public Offering with a total issue size of Rs. 5,430 crores, including a fresh issuance of Rs. 1,250 crores and an offer for sale by its early investors/shareholders for Rs. 4,180 crores.
The IPO was available from October 25 to 29th, with an offer price band of Rs. 440-463 per equity share and a lot size of 32 shares, totaling Rs. 14,816.
Company profile:-
Afcons Infrastructure operates across five key infrastructure sectors. The marine and industrial segment handles projects related to ports and harbor jetties, dry docks, wet basins, breakwaters, outfall, and intake structures, liquefied natural gas tanks, and material handling systems.
Written by:- Abhishek Singh
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