Shares of Ashoka Buildcon climbed over 2 percent on October 3 after the company received a letter of award for a project valued at Rs 474.10 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). The project involves designing and constructing an elevated road from Kalyan to Pune Link Road, including railway line crossings and slip roads, to be completed in 30 months.
Meanwhile, Ashoka Buildcon further won another two contracts of Rs 1,264 crore for creek bridges-from Kolshet to Kalher and Gaimukh to Payegaon, for completion in 36 and 42 months respectively.
At 9:18 am, the stock was trading 2.8 percent higher at Rs 243.40 on the NSE. Stock of the company has jumped 73 percent in 2023 so far, as against the Nifty gain of 18 percent. The Ashoka Buildcon stock has risen 95 percent over the last one year, doubling investors’ wealth.
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Source: Moneycontrol
News Desk
