Ashoka Buildcon shares up by 10% on winning Rs 333 cr order from Gujarat Rail

News24

LAST UPDATED: April 16, 2021, 4:49 p.m.

New Delhi (Anish Yande): Shares of Ashoka Buildcon rose by 10 percent on Friday’s trading session. The shares of Ashoka Buildcon were recorded at Rs 98.50 per share. The company’s shares increased on securing of an order from Gujarat Rail Infrastructure Development Corporation.

Shares of Ashoka Buildcon secures LOA from Gujarat Rail Infrastructure:

Ashoka Buildcon received a letter of award from Gujarat Rail Infrastructure Development Corporation. 

Shares of Ashoka Buildcon rose to an intraday high of Rs 98.75 per share. The Ashoka Buildcon shares were recorded at an intraday low of Rs 90 per share. The shares have gained more than 58 percent within the past six months.

The shares of the construction engineering company reached a 52-week high of Rs 118.60 on February 17, 2021. Shares of Ashoka Buildcon had reached a 52-week low of Rs 48.65 on May 29, 2020. The shares were trading 18.89 percent under their 52-week high and 97.74 percent above their 52-week low.

Shares were traded at a combined volume of 4.4 million equity shares on the NSE and BSE. The shares had reached a 52-week high of Rs 118.65 per share on February 17.

Ashoka Buildcon secured a contract from Gujarat Rail Infrastructure Development Corporation for the improvement of electrification and gauge conversion. 

The Mumbai-based construction engineering company received a Letter of Award for the project. The project involves the Gauge Conversion of Bechraji, which measures 63.83 kilometers at the Ranuj section, with measurements of 101.983 kilometers.  

The total length of the project under construction is 38.153 km. The contract would also require Ashoka Buildcon to construct a 25 KV AC electrification in the Ahmedabad division of Western Railways.

READ ALSO :  Stars celebrate Diwali with their loved ones

The cost of the project has been stated at Rs 333.625 crore. Ashoka Buildcon had received a large EPC order amounting to Rs 503 crore in the solar segment. The order book of the construction engineering company was at Rs 9,152 crore, at an increase of 13 percent on a year-on-year basis. 

Image Credit: Google

Source link

Leave a Comment