India's Afcons Infrastructure falls after Jefferies cuts rating, target price

Afcons Infrastructure

21/05/2026 05:53

** Shares of Afcons Infrastructure AFCN.NS fall as much as 1.26% after Jefferies downgrades stock to "hold" from "buy", PT cut to 305 rupees from 440 rupees

** Jefferies cuts FY27/FY28 EPS estimates by more than 37%

** Brokerage cites persistent weakness in execution and order inflows

** Says FY26 order inflow fell 74% y/y due to delays in converting low-bidder projects and cancellations, while working capital pressures and payment delays remain

** Adds, near-term weakness could persist amid slower execution, geopolitical disruptions

** AFCN rated "hold" on average by 10 analysts, median PT at 345 rupees - LSEG-compiled data

** Stock last down 0.41% at 304.15 rupees

** YTD, stock down about 21%

(Reporting by Surbhi Misra in Bengaluru)

((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))