Shares of Ashoka Buildcon rose 5% in early trading on October 14, following the company’s announcement of winning projects worth Rs 2,309.99 crore. The stock was trading at Rs 265.65 on the BSE at 09:34 am, up by Rs 13.85.
The company received a Letter of Acceptance (LoA) from Maharashtra State Road Development Corporation Ltd. (MSRDCL) for two major projects. The first contract, valued at Rs 310 crore, involves constructing a bridge across Bankot Creek on the Revas Reddi Coastal Highway in Maharashtra’s Ratnagiri district, to be completed in 36 months. The second project, worth Rs 1,999.99 crore, includes building bridges across Jaigad Creek and Kundalika Creek, also along the Revas Reddi Coastal Highway.
Apart from this, Ashoka Buildcon has won a Rs 1673.24 crore contract from CIDCO and showed up as the lowest bidder with its own bid of Rs 918 crore for the BMC project. The MMRDA has given a road construction work in the Mumbai region to the firm at the value of Rs 474.10 crore.
Within the last 52 weeks, the shares of Ashoka Buildcon have seen a high of Rs 284.75 on September 6th, 2024 and a low of Rs 120.90 on October 26th, 2023.
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Source: Moneycontrol
News Desk
