Rs 193-cr contract win lifts Ashoka Buildcon share 3%; key details here

Ashoka Buildcon share rose after the company said that it has received a NoAfrom Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company for a project of Rs 192.69 crore, excluding GST

Ashoka Buildcon share price: Construction engineering major Ashoka Buildcon shares rose up to 3.16 per cent to hit an intraday high of Rs 242.60 per share on Friday, November 28, 2024.

 

The rise in Ashoka Buildcon share price came after the company announced that it has received a Notification of Award (NoA) from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Limited, for a project of Rs 192.69 crore, excluding Goods and Services Tax (GST).

 

In an exchange filing, the company said, “Ashoka Buildcon Limited informs that the Company had submitted a bid for the following Project to Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Limited. Further to apprise that the Company has received Notification of Award for the said Project.”

 

 

The accepted bid price for the project was Rs 192.69 crore, excluding Goods and Services Tax (GST), Ashoka Buildcon said in a statement.

 

Under the terms of project, Ashoka Buildcon will be responsible for procurement for supply, installation, testing and commissioning of new 11 KV lines, LT line on AB cable, distribution transformer substation and supporting works such as DPs, TPs, crossing etc. for separation of 11 KV mix feeders & Mix DTRs under project financing from KfW for Feeder Separation (FSP). 

 

The project is expected to be completed in 24 calendar months, Ashoka Buildcon said.

 

Ashoka Buildcon Ltd specialises in construction and infrastructure development, operating on an EPC (Engineering, Procurement, and Construction) and BOT (Build, Operate, Transfer) basis. The company is also involved in producing and selling Ready Mix Concrete (RMC). As a Fortune India 500 company, Ashoka Buildcon is a leading player in India's highway development sector.

 

The company operates as an integrated entity across EPC, BOT, and HAM (Hybrid Annuity Model) projects. Its key segments include Highways & Bridges, Power (EPC), Railway Works, Buildings (EPC), City Gas Distribution, and Smart Infrastructure. With experience in executing or currently handling 41 Public-Private Partnership (PPP) projects, Ashoka Buildcon has a broad footprint across more than 20 states in India.

 

The market capitalisation of the company is Rs 6,710.69 crore, according to BSE. The company falls under the BSE SmallCap category.

 

At 12:30 PM, shares of Ashoka Buildcon were trading 2.42 per cent higher at Rs 240.85 per share. In comparison, BSE Sensex was trading 0.82 per cent lower at 79,577.95 levels.