Afcons Infrastructure shares rise 3% after securing Rs 4,787 crore Pune Ring Road project

Shapoorji Pallonji Group firm Afcons Infrastructure’s shares surged 3.5% in early trade to a high of Rs 496.70 on the BSE on Tuesday, January 14, as the company emerged as the lowest bidder (L1) for the Rs 4,787.20 crore tender floated by the Maharashtra State Road Development Corporation (MSRDC).

The civil construction company has been selected for two projects to construct the access-controlled Pune Ring Road (East) Packages PRR E5 and E7. Both projects are to be completed within 36 months.

The PRR E5 package involves the construction of Pune Ring Road (East) from Valati, Taluka Haveli to Sonori, Taluka Purandar, District Pune, with a bid cost of Rs 2,718.50 crore. The PRR E7 package entails the construction from Garade, Taluka Purandar to Shiware, Taluka Bhor, District Pune, with a bid cost of Rs 2,068.70 crore.

Afcons Infrastructure is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate. With a legacy spanning over six decades, it has a strong track record of executing numerous technologically complex EPC projects both in India and internationally.

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Afcons Infrastructure Q2 results

The company's consolidated net profit jumped 30% to Rs 135.43 crore despite an 11.22% decline in revenue from operations to Rs 2,959.89 crore in Q2 FY25 compared to Q2 FY24.

EBITDA stood at Rs 427 crore in Q2 FY25, up 8.5% as compared with Rs 394 crore posted in corresponding quarter last year. EBITDA margin fell 13.8% in Q2 FY25 as against 11.5% in Q2 FY24.

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Afcons Infrastructure technical indicators

Technically, the stock's relative strength index (RSI) is at 35.5. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at 5.9, which is below its signal and center line, this is a strong bearish indicator.

The stock is trading below its 5-day, 10-day, 20-day, and 30-day simple moving averages (SMAs).

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Afcons Infrastructure shares performance

Afcons Infrastructure shares have declined 11% year-to-date and 8% over the last one month. The company’s market capitalization currently stands at Rs 17,638 crore.

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