Ashoka Buildcon surges 11% on Rs 494 cr order from MSEDCL

The company has received 'Letter of Awards' for four turnkey contracts for electrification work, it said in a filing to BSE. Out of the total contracts, Rs 155.20 crore is for Barshi, Rs 106.24 crore for Solapur, Rs 117.79 crore for Baramati and Rs 115.27 crore for Kedgoan.
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Sep 26, 2013, 08.36 AM | Source: Moneycontrol.com

Ashoka Buildcon surges 11% on Rs 494 cr order from MSEDCL

"The company has received 'Letter of Awards' for four turnkey contracts for electrification work," it said in a filing to BSE. Out of the total contracts, Rs 155.20 crore is for Barshi, Rs 106.24 crore for Solapur, Rs 117.79 crore for Baramati and Rs 115.27 crore for Kedgoan.

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Ashoka Buildcon surges 11% on Rs 494 cr order from MSEDCL

"The company has received 'Letter of Awards' for four turnkey contracts for electrification work," it said in a filing to BSE. Out of the total contracts, Rs 155.20 crore is for Barshi, Rs 106.24 crore for Solapur, Rs 117.79 crore for Baramati and Rs 115.27 crore for Kedgoan.

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Moneycontrol Bureau

Ashoka Buildcon is on buyers' radar today on the back of Rs 494 crore order from Maharashtra State Electricity Distribution Company ( MSEDCL). Shares of the Maharashtra-based company surged over 11 percent in intraday day on Wednesday.

"The company has received 'Letter of Awards' for four turnkey contracts for electrification work," it said in a filing to BSE.  Out of the total contracts, Rs 155.20 crore is for Barshi, Rs 106.24 crore for Solapur, Rs 117.79 crore for Baramati and Rs 115.27 crore for Kedgoan.

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 Earlier in September, a special purpose vehicle, incorporated by Ashoka Buildcon and GVR Infra Projects, executed a concession agreement with Tamil Nadu government. The agreement is for the development of Chennai Outer Ring Road phase II from Nemilicheri in NH 205 to Minjur in Thiruvottiyur - Ponneri - Panchetti road on design, build, finance, operate and transfer annuity basis at Chennai.

In the joint venture, Ashok Buildcon and GVR hold 50 percent stake each.

At 12:41 hrs Ashoka Buildcon was quoting at Rs 47.50, up Rs 2.50, or 5.56 percent on the BSE.

(Posted by Nasrin Sultana)

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Ashoka Buildcon surges 11% on Rs 494 cr order from MSEDCL

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