Shares of Afcons Infrastructure rallied as much as 9.4% to their day’s high of Rs 346.30 on the BSE on Wednesday after the company announced that it had received a letter of award from Vadhvan Port Project Ltd (VPPL) for the construction of a 10.14-km breakwater at the upcoming Vadhvan Port in Maharashtra.

According to the company, the contract is valued at Rs 5,301 crore. Upon completion, the structure is expected to become the second-longest breakwater in the world. The project involves the construction of a 10.14-km-long breakwater as part of the Vadhvan Port development. Afcons said it received the Letter of Award on June 10.

In a regulatory communication, the company highlighted its experience in executing marine infrastructure projects in India and overseas. Afcons has undertaken several marine projects internationally, including the Bulk Jetty at Port of Sohar in Oman, the New Owendo International Port in Gabon, and the Sulphur Jetty project in Kuwait.

The company stated that the Bulk Jetty at Port of Sohar is located at one of the world’s deepest ports. It also noted that the New Owendo International Port in Gabon was completed in 18 months and was recognised as the fastest completed port project in West Africa. The Sulphur Jetty project in Kuwait involved the execution of an EPC berth facility, including trestles, equipment and structural works.

Afcons further said that it has been ranked by Engineering News-Record (ENR), USA, as the world’s eighth-largest marine and port facilities contractor.

The Vadhvan Port project is envisaged as India’s largest public port and one of the world’s largest container ports. According to the company, the port is expected to have a handling capacity of 23.2 million TEUs.

Afcons Infra Q4

Afcons reported a net loss of Rs 89 crore in the fourth quarter of FY26 against a profit after tax of Rs 111 crore in the same period last year. The company said net profit was impacted by macroeconomic uncertainties and certain one-time factors.
The company’s revenue from operations also dipped by 18% to Rs 2,777 crore from Rs 3,387 crore posted in the corresponding quarter of the previous fiscal year, Afcons said in its investor presentation.EBITDA came in at Rs 170 crore, marking a 59% drop from Rs 415 crore posted in the year-ago period. Margins also witnessed a sharp fall, down 6.1% from 12.2% in Q4FY25. For the full year, the company’s order book stood at Rs 32,496 crore, ‘ensuring visibility on its future revenue and profitability’, it said.

Despite Wednesday’s surge, Afcons’ share price is down 12% in 2026 and about 23% in the last 1 year.

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SEOUL — A surge in staff absences at South Korea’s National Election Commission ahead of the June 3 local elections has drawn sharp criticism, highlighting ongoing concerns about the body’s preparedness amid a separate ballot shortage controversy that has shaken public confidence in the electoral process.

As of late May, 181 employees — roughly 6% of the commission’s 3,034 authorized staff — were on leave, according to data released by the commission. The figure marked an increase from 176 in early April and continued a pattern of rising absences as nationwide votes approach.

The trend has persisted across recent elections. During the 2022 local elections, 226 staff members, or 7.6% of the workforce, were on leave. Numbers typically decline after polls close but rise again ahead of major votes, despite internal guidance urging employees to limit non-essential time off.

Pattern of Absences and Organizational Questions

Lawmakers from the opposition People Power Party have seized on the data, obtained through parliamentary channels, to question the commission’s operational culture. The spike occurred as the commission managed nationwide local elections for mayors, governors, council members and education superintendents.

Critics argue the recurring pattern reflects complacency. People Power Party lawmaker Kim Seung-su stated that such issues contributed to broader mismanagement, including ballot shortages that disrupted voting at dozens of polling stations.

“The complacent organizational culture of the National Election Commission led to a major disaster that even stripped voters of their suffrage,” Kim said, calling for systemic reform.

Independent lawmaker Han Dong-hoon has previewed legislation to restrict leave during election periods, aiming to ensure full staffing for future votes. The commission had previously advised staff to refrain from unnecessary absences, but compliance appears limited.

Ballot Shortage Crisis Overshadows Elections

The leave issue has gained traction alongside a more visible crisis: severe shortages of physical ballots on election day. The commission printed ballots for approximately 50% of registered voters, anticipating high early voting turnout would reduce demand. That calculation proved flawed, leading to disruptions at around 91 polling stations nationwide.

Shortages affected areas including multiple districts in Seoul, with some stations extending hours into the evening as emergency supplies arrived. Protests erupted, including demonstrations in Daegu and Seoul, with calls for investigations, resignations and even by-elections in affected areas.

National Election Commission Chairman Rho Tae-ak and Secretary General Heo Chul-hoon resigned in the aftermath, accepting responsibility. An external expert panel was formed to investigate causes, and the presidential office announced plans for a broader overhaul of election procedures.

President Lee Jae-myung described the incident as “shocking,” noting its damage to South Korea’s reputation as a model democracy. Constitutional complaints have been filed, raising questions about voting rights violations.

Context of the June 3 Local Elections

The elections served as a key test for the ruling Democratic Party and President Lee’s administration. Exit polls suggested strong performances for the ruling party in many races, though results in key areas like Busan remained competitive. Turnout and logistics challenges added complexity to an already high-stakes vote.

South Korea’s National Election Commission, an independent body, oversees all aspects of electoral administration. Its track record has generally been viewed positively for transparency, but recent events have fueled calls for accountability and structural changes.

The leave spike is not new but gains significance when paired with logistical failures. Historical data shows fluctuations tied to election cycles: lower during off-years around 130-150, then rising before major polls. This pattern has prompted repeated political scrutiny.

Broader Implications for Electoral Integrity

Analysts note that while staff absences may not directly cause ballot shortages, they contribute to perceptions of under-resourcing and poor planning. With over 14,000 polling stations nationwide, effective staffing is critical for smooth operations.

The commission has acknowledged the need for reform. Printing thresholds were reduced over years — from 80% in 2009 to 50% this cycle — based on internal decisions without full commission review in some cases, according to reports. This has intensified debates over risk assessment and contingency planning.

Public reactions include protests demanding fact-finding investigations and punishment for responsible officials. Some groups organized symbolic “democracy funerals” to highlight perceived failures. The controversy has also sparked online discussions and calls from civic groups for greater oversight.

Reform Proposals and Future Outlook

Proposed legislation to limit leave during election periods aims to address one visible symptom. Broader reforms under discussion include enhanced contingency printing, better supply chain management for ballots and improved coordination with local commissions.

The independent nature of the commission provides insulation from direct political control but also raises questions about internal accountability mechanisms. Experts suggest balancing autonomy with stronger performance standards and external audits.

As South Korea prepares for future national votes, including parliamentary elections, the lessons from June 2026 will likely shape policy. The ruling party and opposition alike have expressed interest in restoring trust, though partisan differences remain on the scope of changes.

The episode underscores challenges in maintaining electoral efficiency in a technologically advanced democracy that still relies on paper ballots for transparency. Early voting continues to grow in popularity, complicating traditional planning models.

Public Trust and Democratic Resilience

South Korea has long prided itself on high-quality elections with strong turnout and minimal irregularities. The recent disruptions, while localized, have tested that reputation. Investigations are ongoing, with the commission committed to transparency in its review process.

Voters and officials alike emphasize the importance of swift corrective action. The resignations of top leaders signal accountability, but sustained reforms will be necessary to prevent recurrence. As the country navigates political polarization, robust electoral institutions remain essential for democratic legitimacy.

Moving forward, stakeholders will monitor implementation of new protocols. The combination of staff management issues and logistical shortfalls has created a moment for comprehensive evaluation, potentially strengthening the system for years to come.

For now, the focus remains on addressing immediate fallout while safeguarding voter rights. The events of June 2026 serve as a reminder that even established democracies must continually adapt to maintain public confidence in their foundational processes.

LOS ANGELES — LeBron James, the Los Angeles Lakers forward and one of basketball’s most enduring superstars, expressed profound gratitude after being named the cover athlete for TIME magazine’s inaugural TIME100 Sports list in 2026, highlighting the recognition as a testament to his impact both on and off the court.

“Beyond Grateful and Blessed!! 🙏🏾👑” James posted on X following the announcement, underscoring his appreciation for the honor that positions him as a transformative figure in sports. The TIME profile, published ahead of the full list reveal, celebrates his redefinition of the modern athlete through record-breaking performance, business acumen, activism and family legacy.

At 41, James continues to defy expectations in his 23rd NBA season. He became the league’s all-time leading scorer in 2023 and has surpassed 50,000 career points when including playoffs. His longevity includes 22 consecutive All-Star selections and multiple All-NBA honors, alongside four NBA championships and league MVP awards.

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Proudest Achievement: Playing Alongside Son Bronny

In the TIME cover story, James identified playing alongside his eldest son, Bronny James, as the pinnacle of his basketball career. The father-son duo made history as the first to share the court in an NBA playoff game during the 2026 postseason.

“Out of all the sh-t I’ve done in basketball, that’s the best accomplishment I’ve ever had,” James said. “The kid has earned his right to be a professional athlete.”

James has been vocal in defending his family’s journey, particularly against criticism directed at Bronny. He emphasized the importance of fatherhood and the values he instills, drawing from his own upbringing in Akron, Ohio, without a similar support system.

“The thing you’re not going to do is throw stones at us as a family. I’m not letting that sh-t slide, because I know what I’ve created because of what I didn’t have. So if you want to talk about the kid, that he shouldn’t be an NBA player, I don’t care about that. As long as you don’t get to the fatherhood piece. I don’t play those games,” he added.

The pair’s on-court connection has included notable moments, such as assists and shared minutes that captivated fans. Bronny, drafted by the Lakers, has navigated the spotlight while carving his own path under his father’s guidance.

LeBron on the GOAT Debate

James also addressed the perennial greatest-of-all-time discussion, placing himself at the top while acknowledging the perspectives of legends like Michael Jordan and Kobe Bryant.

“I’m not taking nobody over me,” James stated. “There’s no question. But I think Mike will say the same thing. Rest his soul, Kobe will say the same thing. Magic will say the same thing. Bird will say the same thing. Shaq could say the same thing.”

In other comments, James has noted stylistic differences with Jordan, describing his own game as that of a point-forward who prioritizes passing. “I never have compared myself to MJ because our games are totally different,” he said in a separate interview. “There are a lot of things where I would say my game is a lot different and a little better than his, but s—, he was f—ing great.”

His case rests on unparalleled versatility, longevity and off-court influence. Beyond scoring, James has shaped player empowerment, notably through his 2010 “Decision” and subsequent moves that prioritized agency. His business empire includes SpringHill Company, and he has invested in media, entertainment and community initiatives like the I Promise School in Akron.

Broader Impact and 2026 Outlook

The TIME100 Sports recognition arrives as James navigates another competitive season with the Lakers. Expectations remain high for him to contribute meaningfully, potentially extending his career for at least one more year to further bolster his resume.

His influence extends globally. From four Olympic gold medals to advocacy on social justice issues, James has leveraged his platform to drive change. The TIME profile details how he has bridged athletic excellence with cultural and economic power, becoming a billionaire athlete who redefines success.

Teammates and analysts praise his leadership and work ethic. Even as younger stars emerge, James’ presence elevates those around him, as evidenced by his mentorship of Bronny and other Lakers players. His ability to adapt — from explosive scorer to facilitator and veteran presence — exemplifies sustained excellence.

Family, Legacy and Future

James’ family life remains central. With wife Savannah and their children, including sons Bronny and Bryce and daughter Zhuri, he balances elite competition with personal milestones. The shared NBA journey with Bronny has created lasting memories, from regular-season games to playoff appearances.

Off the court, his ventures continue to expand. SpringHill has produced acclaimed projects, and his investments span technology, entertainment and health. These endeavors complement his on-court legacy, positioning him as a blueprint for future athletes.

As the 2026 NBA season progresses toward the Finals and beyond, James’ focus remains on team success while cherishing individual honors like the TIME recognition. His story from Akron prospect to global icon inspires generations, proving that resilience, vision and family can coexist with athletic greatness.

The TIME100 Sports list celebrates influencers across disciplines, with James leading the icons category. His selection reflects not only statistical dominance but also cultural resonance in an era of athlete activism and entrepreneurship.

Looking ahead, James has hinted at continued play while preparing for life beyond the court. Whether adding to his championship tally or expanding his business footprint, his trajectory suggests the chapter is far from closed. For fans and observers, the TIME honor serves as a timely affirmation of a career that has reshaped basketball and sports culture.

James’ response to the accolade embodies humility amid achievement. In a landscape of constant scrutiny, his emphasis on gratitude, family and legacy offers a model of perspective. As debates over greatness persist, his body of work — points, titles, influence and now father-son history — solidifies an unparalleled place in NBA lore.

Analysts anticipate his presence will remain pivotal for the Lakers, with potential playoff runs testing his enduring competitiveness. The TIME recognition caps a remarkable phase, celebrating an athlete who continues to evolve while honoring his roots and forward-looking vision. James’ journey underscores the power of purpose-driven excellence in sports and beyond.

Spinnaker Developments is one step closer to building its $25.4 million apartment project in North Perth.

The Statutory Planning Committee, mainly comprising of Western Australian Planning Commission members, approved the Cottesloe-based developer’s application to build on 407- 409 Charles Street.

The development, dubbed Charles & Elizabeth House, comprises 52 apartments and communal facilities across a five-storey building, and 26 car parking bays.

City of Vincent mayor Alison Xamon, who presented at the committee meeting, said the recommended approval for the project was disappointing.

Ms Xamon said there were outstanding issues with the project’s lack of transition to the lower density areas and the shortfall in parking bays.

“The city requested either increased parking provisions or further evidence demonstrating that the shortfall would satisfy the relevant planning objectives including an assessment of available on-screen parking capacity but unfortunately no such assessment has been undertaken,” she said.

“The city’s preferred outcome is that the application be deferred to allow the western interface [transition] and associated parking matters to be resolved before determination.”

Committee members backed Spinnaker’s plan, with WAPC chair Emma Cole saying the development would be a positive addition to Charles Street.

“We’re looking at a site that’s about 3 kilometres from the CBD, it’s a transit corridor serviced by key bus routes,” she said at the meeting.

“It’s got really good amenities and facilities close by including the North Perth town centre, Angove Street shopping centre, parks… there’s a lot of amenity in the area in a walkable catchment.

“The car parking shortfall and the context of the location, the transit corridor, as well as accommodation for range of bicycle and motorcycle parking … is all accommodated and goes towards that reduction.”

Spinnaker’s project adds to a growing list of developments in North Perth, including an eight-storey apartment block at 299 Charles Street.

The $35 million plan to build 117 apartments at 299 Charles Street was approved in 2024.

Celsius Property Group’s $160 million proposal to build a nine-storey apartment building across six lots bound by Alma Road, Fitzgerald Street and Raglan Road was approved in early 2025.

The development will add 108 apartments to the area, as well as an office, retail and hospitality elements on the ground floor.

Shares of NLC India fell over 3% on Wednesday despite strong demand for the government’s Offer for Sale (OFS), which was oversubscribed on the first day. The offer opens for retail investors today.

Non-retail investors bid for over 13.03 crore shares worth Rs 4,158 crore, as against a base offer size of 2.49 crore shares reserved for them.

Shares of the Navratna PSU company tumbled more than 3% to trade at Rs 316.6 apiece on NSE.

NLC India announced on Monday that the government aims to sell 2% of the company’s total paid-up equity capital, or 2.78 crore shares, as part of the base offer.

The government also retained an oversubscription option to sell an additional 1% stake or 1.39 crore shares, taking the total potential offer size to 4.17 crore shares or 3% equity. At the floor price of Rs 303 per share, this would be worth around Rs 1,263.51 crore.

In an exchange filing released on Tuesday, NLC India said that the government will exercise the oversubscription option to sell up to 1.39 crore shares, in addition to the 2.77 crore shares that were part of the base offer. 10% of the equity shares offered in the OFS, which stands at nearly 41.52 lakh, will be available for retail investors today, subject to receipt of valid offers, the company said.
“Additionally, up to 25,000 equity shares may be offered to the eligible employees of the company…The eligible employees may apply for equity shares up to Rs 500,000. However, any bids by eligible employees will be considered for allocation, in the first instance, for an amount up to Rs 200,000 only,” it said.Also read: NLC India OFS over-subscribed 5 times, institutional buyers put in Rs 4,158 cr bids

NLC India, formerly known as Neyveli Lignite Corporation, is among India’s leading mining and power generation companies. It operates lignite mines and thermal power stations while also expanding its renewable energy portfolio. The company has emerged as a beneficiary of India’s rising power demand and the government’s focus on energy security. In recent years, the company has diversified beyond lignite mining into solar and other renewable energy projects as part of its long-term growth strategy.

NLC India shareholding pattern

The Central government owned a 72.20% stake in NLC India, according to data on the company’s shareholding pattern as on March 31, 2026. A total of 22 mutual funds held around 9.5% stake in NLC India, while Life Insurance Corporation of India (LIC) and SBI Life Insurance each held around 2% stake.

NLC India’s OFS comes as the government ramps up its disinvestment efforts. Recently, the government offloaded some of its stake in Coal India, NHPC and other PSU companies.

NLC India share price

NLC India shares have fallen around 8% in one week and 3% in one month. The stock is overall up around 25% in 2026 so far. In the longer term, the shares of the PSU have delivered 33% returns over one year, 220% over three years and 396% over five years. The company currently has a market capitalisation of nearly Rs 44,303 crore.

NLC India has maintained a track record of returning cash to shareholders through regular dividends. The company has declared 43 dividends since August 2000, and currently has a dividend yield of 1.6%, according to data on Trendlyne.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)