Shares of Ashoka Buildcon today surged over 7 per cent as the company said it has emerged as the lowest bidder for two road projects worth Rs 448 crore in Maharashtra.
The stock jumped 7.32 per cent to settle at Rs 246.30 on BSE. During the day, it soared 15.46 per cent to Rs 265.
At NSE, shares of the company zoomed 6.13 per cent to close at Rs 246.65.
The company's market valuation went up by Rs 314.48 crore to Rs 4,609.48 crore.
In terms of equity volume, 1.92 lakh shares of the company were traded on BSE and over 23 lakh shares changed hands at NSE during the day.
"The company had submitted its bids to Ministry of Road Transport and Highways through Public Works Department, National Highways, Maharashtra for the ...projects," Ashoka Buildcon said in a BSE filing yesterday.
"The company emerged as the lowest bidder at the financial bid opening meeting...The aggregate cost quoted by the company for two projects is Rs 447.51 crore," it said.
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