Ashoka Buildcon soars 11% on order win from Gujarat Rail Infrastructure

Despite today's gain, in past one month, the stock of roads & highways construction company has underperformed the market by falling 10 per cent, as compared to 2.7 per cent decline in the Sensex

Shares of Ashoka Buildcon jumped 11 per cent to Rs 98.50 on the BSE in intra-day trade on Friday, after the company received a letter of award (LOA) from Gujarat Rail Infrastructure Development Corp (G-RIDE).

"The LOA is for the project 'Gauge conversion of Bechraji (63.83 KM) - Ranuj (101.983 KM) Section, total length of 38.1 km metre gauge to broad gauge with 25 KV AC electrification in Ahmedabad. The accepted project cost is Rs 333.625 crore," Ashoka Buildcon said in a exchange filing.

At 11:13 am; the stock was trading 8 per cent higher at Rs 96