Afcons Infrastructure shares rise 6%, hit record high; here's why 

Shares of Afcons Infrastructure Ltd gained over 6% to a record high on Friday after the civil construction firm said it won a Rs 1,084.54 crore order from Defence Research and Development Organisation (DRDO). 

The order relates to infrastructure work on EPC basis in India. The order is to be executed in 36 months. 

Afcons Infrastructure stock rose 6.54% to its all-time high of Rs 570 against the previous close of Rs 535 on BSE. Market cap of Afcons Infrastructure climbed to Rs 20,138 crore. Total 2.94 lakh shares changed hands amounting to a turnover of Rs 16.33 crore. Afcons Infrastructure shares have gained 11 per cent in a year.

In terms of technicals, the relative strength index (RSI) of the stock stands at 55.6, signaling the stock is trading neither in the overbought nor in the oversold zone. 

Afcons Infrastructure shares are trading higher than the 5 day, 10 day, 20 day, 30 day moving averages.

Afcons Infrastructure is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group.