Ashoka Buildcon shares soar 14% on project win, CRISIL rating update

The company has received a Letter of Acceptance for the development of a Gems & Jewellery Park under the Public Private Partnership (PPP) mode at Raipur, Chhattisgarh

Shares of Ashoka Buildcon were in demand on the bourses in Monday's trade after the civil construction company announced the receipt of a Letter of Acceptance (LoA) for a project in Chhattisgarh and informed investors about changes in its credit ratings.

 

Following the announcements, the stock rose as much as 13.87 per cent to hit an intraday high of ₹140.13 per share on the NSE on Monday, June 15, 2026.

 

Although the counter pared some gains, it continued to attract investor interest. At 12:46 PM, Ashoka Buildcon shares were trading at ₹137.20 apiece, up 11.49 per cent from the previous close of ₹123.06 on the NSE. At the same time, the benchmark Nifty50 index was quoted at 23,908, up 285 points or 1.21 per cent.

 

 

At the prevailing market price, the company's market capitalisation stood at ₹3,857.70 crore.

Receives LoA for Gems & Jewellery Park project

In an exchange filing, Ashoka Buildcon said it had submitted a bid through a joint venture, in which it is the lead member with a 51 per cent stake, for a project awarded by the Chhattisgarh State Industrial Development Corporation Limited (CSIDC).

 

The company said it has received a Letter of Acceptance for the development of a Gems & Jewellery Park under the Public Private Partnership (PPP) mode at Raipur, Chhattisgarh.

 

The project involves the development of the park over an area of 38,922 square metres on a PPP basis.

 

According to the company, the accepted premium payable for the project is ₹112.40 crore. In addition, lease rent will be 2 per cent of ₹112.40 crore, with an escalation of 10 per cent every fourth year.

 

The lease period is 30 years, extendable up to 90 years, while the construction period is five years.  CHECK Stock Market LIVE Updates

CRISIL withdraws ratings after reaffirmation

Separately, the company informed exchanges that CRISIL Ratings had reaffirmed and subsequently withdrawn its long-term and short-term debt ratings.

 

The long-term debt rating was reaffirmed at 'CRISIL AA-/Negative' and withdrawn, while the short-term debt rating was reaffirmed at 'CRISIL A1+' and withdrawn.

 

Ashoka Buildcon said CRISIL withdrew both ratings at the company's request, in line with the rating agency's policy on withdrawal of ratings.