Afcons Infrastructure Share Price Surges Over 3% as Company Receives Arbitration Award in ONGC Project Case

Afcons Infrastructure Limited has received an arbitration award in connection with a dispute arising from the ICPR process platform project of Oil and Natural Gas Corporation (ONGC), the company informed exchanges. 

Key Development: Arbitration Outcome and Financial Award 

The matter involved claims filed by Afcons Gunanusa Joint Venture (AGJV), along with counterclaims raised by ONGC. The arbitral tribunal has ruled in favour of AGJV on certain claims, awarding a net amount of ₹3.35 crore. 

Importantly, the tribunal has rejected the counterclaims submitted by ONGC and has also directed the release of the bank guarantee furnished by AGJV. 

Joint Venture and Dispute Context 

The dispute pertains to project execution involving AGJV, a joint venture between Afcons Infrastructure and PT Gunanusa Utama Fabricators, Indonesia.  

Both parties had referred their claims and counterclaims to arbitration under contractual provisions linked to the ONGC project. 

The arbitration award was passed on March 10, 2026, and the company received official communication of the order on March 17, 2026. 

Read More: Afcons Infrastructure Shares Fall Over 3%; Receives Termination Notice For Gabon NR1 EPC Project! 

Afcons Infrastructure Share Price Performance  

As of March 18, 2026, at 12:00 PM, Afcons Infrastructure share price is trading at ₹289.45 per share, reflecting a surge of 3.15% from the previous closing price.  

Conclusion 

While the ruling provides partial relief with a monetary award and dismissal of counterclaims, Afcons’ final financial impact will depend on its ongoing evaluation of the order and any further legal steps. 

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