Afcons Infrastructure's shares gained in the early trade on November 22 following the company’s receipt of a letter of acceptance (LoA) from the Uttarakhand Project Development and Construction Corporation (UPDCC).
At 09:22am, Afcons Infrastructure was quoting at Rs 493.70, up Rs 5.85, or 1.20 percent, on the BSE.
The LoA is for the civil works and hydromechanical (HM) works associated with the construction of a 130.6-meter high concrete gravity dam and other related works for the Song Dam Project across the River Song in Dehradun, Uttarakhand.
The total project cost for the Song Dam Project is Rs 1,274 crore, with an expected completion timeline of 60 months (5 years).
Catch all the market action on our live blogA meeting of the board of directors of the company is scheduled to be held on Saturday, November 23, 2024, to consider and approve the unaudited standalone and consolidated financial results of the company for the quarter and half year ended September 30, 2024.
Earlier in this month, the company was declared lowest bidder for a project worth Rs 1,007 crore by Madhya Pradesh Metro Rail Corporation Limited.
The share was listed with nearly 8 percent discount at Rs 426 per share against its offer price of Rs 463 apiece.
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