Ashoka Buildcon rose 4.37% to Rs 140.90 at 11:19 IST on BSE after the company said it won projects worth Rs 863.31 crore from Bihar Power Distribution Company.
The company made the announcement during trading hours today, 25 August 2014.
Meanwhile, the BSE Sensex was up 174.34 points, or 0.66%, to 26,593.89.
On BSE, so far 49,000 shares were traded in the counter, compared with an average volume of 23,617 shares in the past one quarter.
The stock hit a high of Rs 143.05 and a low of Rs 133 so far during the day. The stock hit a record high of Rs 158.85 on 18 July 2014. The stock hit a 52-week low of Rs 42.15 on 29 October 2013.
The stock had underperformed the market over the past one month till 22 August 2014, falling 8.51% compared with 1.51% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.51% as against Sensex's 8.39% rise.
The small-cap company has an equity capital of Rs 79.07 crore. Face value per share is Rs 5.
Ashoka Buildcon said it has received letters of award/allotment for the projects invited by North Bihar Power Distribution Company, Patna, for the electrification work on turnkey basis in the districts of Samastipur and Paschimi Champaran under 12th Plan of Rajiv Gandhi Grameen Vidyutikaran yojna for Rs 379.53 crore and Rs 347.27 crore respectively and South Bihar Power distribution Company, Patna, for the electrification work on turnkey basis in the district of Munger under 12th Plan of Rajiv Gandhi Grameen Vidyutikaran yojna for Rs 136.51 crore. The aggregate value of these projects is Rs 863.31 crore, the company said.
On a consolidated basis, Ashoka Buildcon's net profit rose 20.2% to Rs 36.58 crore on 34.1% increase in net sales to Rs 628.55 crore in Q1 June 2014 over Q1 June 2013.
Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.
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