Ashoka Buildcon rose 3.62% to Rs 115.80 after the construction firm received a letter of acceptance from National Highways Authority of India (NHAI) for a project worth Rs 726 crore.
The project entails, "Proposal for Development of Memmadpur (Ambala) - Banur (IT City Chowk) Kharar (Chandigarh) Corridor under Bharatmala Pariyojana - Package - II - 6 laning of IT City Chowk to Kurali Chandigarh Road (Design length: 31.23 km) in the state of Punjab on EPC mode."
The accepted bid price is Rs 726 crore. The announcement was made after market hours yesterday, 12 July 2021.
On a consolidated basis, Ashoka Buildcon reported 4.6% rise in net profit to Rs 153.42 crore on 9.6% increase in net sales to Rs 1,735.57 crore in Q4 FY21 over Q4 FY20.
Ashoka Buildcon is engaged in construction & maintenance of roads and supporting services to land support-operation of toll roads.
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