AFCONS

March 21 (Reuters) - ** Afcons Infrastructure AFCN.NS rises 2.3% to seven-week high of 480.85 rupees; set for third day of gains

** IIFL Capital starts with "buy", PT of 554 rupees

** Says co's existing 486 bln-rupee order book (including L1 position) and stable government infra spends provide strong growth visibility

** Expects revenue and profit to grow at compounded annual rate of 20% and 24%, respectively, over FY25-FY27

** Adds margins rose steadily due to larger size, complexity of projects and will sustain going ahead

** Stock rated "strong buy" on avg; median PT is 570.50 rupees, per data compiled by LSEG

** AFCN up 4% from IPO price of 463 rupees when it debuted on November 4, 2024, but down 12% YTD

(Reporting by Vivek Kumar M)

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** Shares of Afcons Infrastructure AFCN.NS slide 7.4% to 412 rupees, lowest since Nov 4 trading debut

** Stock now down 11.5% vs IPO price of 463 rupees

** Income tax officials conducting survey at AFCN offices in Mumbai and Delhi, CNBC Awaaz reported

** Afcons, the flagship of conglomerate Shapoorji Pallonji Group, did not respond to a Reuters request for comment

(Reporting by Sethuraman NR in Bengaluru)

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Feb 3 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - GETS PENALTY ORDER FOR 388.2 MILLION RUPEES

Source text: ID:nBSE4K2f9g

Further company coverage: AFCN.NS

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Feb 1 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• GETS TAX ORDER WITH PENALTY OF 143.9 MILLION RUPEES

Source text: ID:nBSE4WtZ30

Further company coverage: AFCN.NS

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Jan 29 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• RECEIVES LETTER OF AWARD FOR ORDER WORTH 12.83 BILLION RUPEES

Source text: ID:nBSE9H4Yfm

Further company coverage: AFCN.NS

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Jan 13 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - EMERGES AS L1 BIDDER FOR PUNE RING ROAD PACKAGES

• AFCONS INFRASTRUCTURE LTD - TOTAL BID COST FOR PROJECTS IS 47.87 BILLION RUPEES

Source text: ID:nBSErBHYk

Further company coverage: AFCN.NS

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Jan 8 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - TAX AUTHORITY DEMANDS 14.4 MILLION RUPEES

Source text: ID:nBSE6T6Q0W

Further company coverage: AFCN.NS

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** Shares of recently listed Afcons Infrastructure AFCN.NS rise as much as 6.6% to a record high of 570 rupees

** Construction engineering co gets order worth 10.85 bln rupees ($126.56 mln) from Defence Research and Development Organisation

** Order for designing and building civil, mechanical, electrical, HVAC, ELV systems, furniture and interiors

** More than 4.2 mln AFCN shares traded; 1.5x its 30-day avg

** Stock last up 3.5%, has risen 30% since its market debut in Nov. 2024

($1 = 85.7290 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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Dec 31 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE - GETS TAX DEMAND OF 51.09 MILLION MZN AND PENALTY OF 5 MILLION MZN

Source text: ID:nNSE8Hd9Qm

Further company coverage: AFCN.NS

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** Shares of construction engineering company Afcons Infrastructure AFCN.NS rise 4.9% to 548 rupees

** Co gets order worth 10.07 bln rupees ($118.7 mln) from Madhya Pradesh Metro Rail Co

** Order for design and construction of elevated viaduct and 13 elevated metro stations for Bhopal metro rail project

** AFCN up ~29% since listing in November

($1 = 84.8250 Indian rupees)

(Reporting by Vijay Malkar)

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Nov 21 (Reuters) - Afcons Infrastructure Ltd AFCN.NS:

• AFCONS INFRASTRUCTURE LTD - GOT LETTER OF ACCEPTANCE FOR PROJECT BID OF 12.74 BILLION RUPEES

Source text: ID:nBSE9Q64h6

Further company coverage: AFCN.NS

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** Afcons Infrastructure AFCN.NS slips as much as 9.2% to 420.25 rupees on its first day of trading

** Stock opened at 426 rupees, 8% lower than its IPO price of 463 rupees

** Listing performance reflects cautious market outlook - Shivani Nyati, head of wealth at Swastika Investmart

** Indian benchmarks .NSEI, .BSESN down 1.4% each on the day .BO

** Shapoorji Pallonji group-owned firm raised 12.5 bln rupees ($148.7 mln) via new share sales, while investors sold shares worth 41.8 bln rupees

** Afcons to use proceeds to buy equipment, fund long term working capital needs and repay debt

** IPO was oversubscribed by 2.63 times, per exchange data

** Stock last down 2.6%

($1 = 84.0740 Indian rupees)

(Reporting by Hritam Mukherjee and Bharath Rajeswaran in Bengaluru)

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