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Afcons Infrastructure shares advanced 6.2 per cent on Friday and recorded an all time high of Rs 559 per share. The stock jumped after the company announced it completed the longest tunnelling drive for DMRC in Delhi Metro Phase-4.
Around 2:03 PM, Afcons share price was up 3.62 per cent at Rs 545.25 per share. In comparison, the BSE Sensex was down 0.11 per cent at 81,679.74. The market capitalisation of the company stood at Rs 20,079.20 crore. The stock hit a new high at Rs 559 per share gaining above the issue price of Rs 463 per share and at present is quoting at premium of 18 per cent to issue price
"Afcons Infrastructure Ltd achieved a significant milestone today in Delhi Metro Phase IV by completing the longest tunnelling drive between the Tughlakabad Airforce Launching Shaft and Maa Anandmayee Marg Station on the Tughlakabad-Aerocity corridor," the filing read.
The DC-07 package includes three stations, 11.26 km of tunnelling, a 223-meter ramp, and a 119-meter cut-and-cover section. The three underground stations are Maa Anandmayee Marg Station, Tughlakabad Railway Colony Station, and Tughlakabad Station. This package is part of the Aerocity to Tughlakabad Corridor (Line-10) of Phase-IV of the Delhi Metro, with a total route length of 23.62 km.
The 105-meter-long TBM was used in achieving this significant tunnel breakthrough. The new tunnel has been constructed at an average depth of approximately 16 meters, with around 1,894 rings installed, each with an inner diameter of 5.8 meters.
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The breakthrough on the other parallel tunnel is expected in January 2025.
“Tunnel Boring Machine (TBM) AMRIT successfully completed 2.65 km of boring through mixed soil and hard rock strata today. It is the longest tunnelling drive in phase-IV of Delhi Metro. Frequent cutter replacements were required to bore through the hard rock. The tunnel drive alignment was meticulously planned to avoid passing beneath heritage structures adjacent to Mehrauli Badarpur Road,” said S Paramasivan, managing director, Afcons Infrastructure Ltd.
Afcons Infrastructure Ltd is a leading Indian construction and engineering company, known for executing large-scale infrastructure projects across various sectors, including transportation, marine, power, and urban development. Established in 1959, Afcons is a part of the Shapoorji Pallonji Group and has gained a strong reputation for its expertise in building complex, large-scale civil and structural projects.
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