Ashoka Buildcon stock jumps 9% to lifetime high on securing projects worth Rs 2,153 cr

Over the past year, Ashoka Buildcon shares have jumped over 140 percent.

Ashoka Buildcon's stock price scaled nine percent in trade on June 3 to hit an all-time high of Rs 200. The company emerged as the lowest bidder for two projects awarded by the Maharashtra State Road Development Corporation.

The total consideration for the two projects is Rs 2,153 crore for engineering, procurement and construction (EPC) work. The total time for both the projects is 36 months, including the monsoon seasons.

At 1 pm, Ashoka Buildcon stock was quoting Rs 195.5 on the NSE, higher by 6.6 percent compared to the previous session's close.

Follow our market blog to catch all the live updates

The first project is the construction of a major bridge across Jaigad Creek
between Tawsal and Jaigad on Revas-Reddi Coastal Highway. Ashoka Buildcon submitted the lowest bid of Rs 794.85 crore, plus additional GST.

The second project will involve the construction of a major bridge over Kundalika Creek, between Revdanda and Salav on the Revas-Reddi Coastal Highway. Ashoka Buildcon secured the contract with a bid of Rs 1,357.87 crore.

Over the past year, Ashoka Buildcon shares have jumped over 140 percent, more than doubling investors' wealth. During this period, the frontline Nifty 50 index has risen around 24 percent in trade.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions