Ashoka Buildcon rises

about 5 months ago
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Ashoka Buildcon, which had closed yesterday at Rs.111.75, opened lower today at Rs.114.90 but went up to Rs.117.15, very close to its 52-week high at Rs.118.65.

The stock reacted positively to the news that it has received letter of acceptance (LOA) from National Highways Authority of India (NHAI) for the development of Memmadpur (Ambala) - Banur (IT City Chowk) - Kharar (Chandigarh) Corridor for a bid price of Rs 726 crore.

The company, as at 31st March 2021, had a total order book of Rs.8167 crore, of which roads is worth Rs.6183 crore, power T&D at Rs.1376 crore and railways at Rs.537 crore and balance Rs.71 crore is from city gas distribution.

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