Ashoka Buildcon gallops on receiving LoA for contracts worth Rs 596 crore
The stock has soared 17% to Rs 71.30 on the Bombay Stock Exchange.
Ashoka Buildcon has galloped 17% to Rs 71.30 after the company said it has received Letters of Acceptance (LoA) for the contracts aggregating Rs 596 crore.
The company said it has received LoAs for the projects viz. execution of distribution strengthening works under "Re-structured Accelerated Power Development and Reforms Programme (R-APDRP) Part-B" scheme in Chennai North and South regions of Tamilnadu Generation and Distribution Co. Ltd. (TANGEDCO), Chennai, on total turnkey basis aggregating Rs 596.28 crore from TANGEDCO.
The stock opened at Rs 61.40 and touched a high of Rs 72.40 on the BSE. A combined 575,000 shares changed hands on the counter till noon deals on the BSE and NSE.
The company said it has received LoAs for the projects viz. execution of distribution strengthening works under "Re-structured Accelerated Power Development and Reforms Programme (R-APDRP) Part-B" scheme in Chennai North and South regions of Tamilnadu Generation and Distribution Co. Ltd. (TANGEDCO), Chennai, on total turnkey basis aggregating Rs 596.28 crore from TANGEDCO.
The stock opened at Rs 61.40 and touched a high of Rs 72.40 on the BSE. A combined 575,000 shares changed hands on the counter till noon deals on the BSE and NSE.
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First Published: Jan 01 2014 | 1:49 PM IST