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Last Updated : Dec 10, 2018 10:36 AM IST | Source: Moneycontrol.com

Ashoka Buildcon gains 6% on LoA from Rail Vikas Nigam

The company had bid the project in joint venture with Story Tech Services LLC, wherein the company is a lead member.

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Share price of Ashoka Buildcon gained 6 percent intraday Monday as company received LoA from Rail Vikas Nigam for the project in the state of Bihar and Jharkhand.

The company has received letter of acceptance (LoA) by Rail Vikas Nigam, for the project of construction of roadbed, bridges, supply of ballast, Installation of track (excluding supply of rails, and track sleepers), electrical (General Electrification), provision of OHE, signaling and telecommunication works in connection with 3rd Line from Sonnagar to Garhwa Road in Dhanbad Division of East Central Railway in the states of Bihar and Jharkhand in 2 packages (Package 1 & Package 2).

The company had bid the project in joint venture with Story Tech Services LLC, wherein the company is a lead member.

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The aggregate accepted bid value of the project is Rs794.20 crore.

At 10:35 hrs Ashoka Buildcon was quoting at Rs 126.90, up Rs 6.70, or 5.57 percent on the BSE.

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First Published on Dec 10, 2018 10:36 am
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