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Last Updated : Aug 06, 2018 01:13 PM IST | Source:

Ashoka Buildcon gains 2.5% after arm wins city gas distribution order in Maharashtra, Karnataka

Unison Enviro got the authorisation for two geographical areas— in Karnataka and Maharashtra and for a period of 25 years.

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Shares of Ashoka Buildcon gained over 2.5 percent on Monday after it received an order for a gas distribution project.

The stock touched an intraday high of Rs 150.00 and an intraday low of Rs 146.40.

The company’s subsidiary, Unison Enviro, has received letters of intent to lay, build and operate city natural gas distribution network. It has received the authorisation for two geographical areas— in Karnataka and Maharashtra and will be for a period of 25 years.

The areas that it has been granted authorisation are

- Chitradurga & Devangere districts in Karnataka

- Latur & Osamanabad districts in Maharashtra

Unison Enviro had submitted the bids to Petroleum and Natural Gas Regulatory Board for the said authorisations.

The stock had lost around 3 percent in the past one month, while in the past three days, it has risen over 2 percent. At 13:07 hrs Ashoka Buildcon was quoting at Rs 149.55, up Rs 3.35, or 2.29 percent, on the BSE.
First Published on Aug 6, 2018 01:13 pm
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