Two “Buildcon” announced getting orders, both from UP for the same expressway and both stock prices have reacted very positively to the news.
First, Ashoka Buildcon announced receipt of order from Uttar Pradesh Expressways Industrial Development Authority.
This is for development of Bundelkhand Expressway – from Kaohari (Dist. Mahoba) to BaroliKharka (Dist. Hamirpur) (Km 100+000 to Km 149+000) in the State of Uttar Pradesh on EPC Basis.
The accepted bid value of the project is Rs.1,079.52 crore.
Similarly, Dilip Buildcon announced today morning that it has got a Rs.1362.06 crore expressway project in Uttar Pradesh on an EPC basis for development of the same Bundelkhand expressway project from Bakhariya to Kudrail Access Controlled (greenfield) expressway project.
Following this news, Ashoka Buildcon rose over 4% to Rs.98.75 and Dilip Buildcon was up over 6% at Rs.420.