Afcons Infrastructure Ltd: Shares Surge Following ₹700 Crore Contract from Reliance Industries
Afcons Infrastructure Ltd, a prominent India-based infrastructure construction company, experienced a significant boost in its share price following the announcement of a ₹700 crore Letter of Award (LoA) from Reliance Industries Limited (RIL). The contract pertains to the Dahej Vinyl Projects in Gujarat, marking a substantial order win for the company.
On Monday, June 9, 2025, Afcons Infrastructure’s shares surged by nearly 6% during the intraday session, reaching a peak of ₹460 per share. This marked the largest intraday gain since May 13, 2025. The stock’s rise was attributed to the confidence instilled by the new contract, which is expected to bolster the company’s revenue streams.
Afcons Infrastructure Ltd operates across various segments, including Marine and Industrial, Surface Transport, Urban Infrastructure, Oil and Gas, and Hydro and Underground. The company is involved in constructing marine works, highways, bridges, railways, metro works, hydro and underground projects, water, tunnels, oil & gas, and LNG tanks.
The ₹700 crore contract from RIL is a significant addition to Afcons Infrastructure’s portfolio, reinforcing its position in the infrastructure sector. The company’s market capitalization stands at ₹155,920 crore, with a close price of ₹435.2 as of June 5, 2025. Despite the recent gains, the stock’s 52-week high was ₹570, and the low was ₹398.
The positive market response to the contract award highlights the strategic importance of such large-scale projects for infrastructure companies like Afcons Infrastructure. Investors are likely to keep a close watch on the company’s execution of the Dahej Vinyl Projects, anticipating further growth and stability in its financial performance.
In related news, the Multi Commodity Exchange of India (MCX) and Indian Energy Exchange (IEX) also saw gains, with MCX shares rising by 3.6% and IEX by 4.3%, following the Securities and Exchange Board of India’s (SEBI) approval to launch electricity futures.
Overall, the infrastructure sector continues to attract significant attention, with companies like Afcons Infrastructure Ltd benefiting from strategic partnerships and large-scale project awards.