Ashoka Buildcon gains 3% on emerging lowest bidder for NHAI project

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Shares of Ashoka Buildcon added more than 3 percent in the early trade on Monday as NHAI declared the company as lowest bidder for project.

The company's subsidiary Ashoka Concessions (ACL) has emerged as the lowest bidder for a project on hybrid annuity mode.

The subsidiary had submitted its bid to National Highways Authority of India (NHAI) for the project for construction of 8 lane Vadodara Kim expressway in the state of Gujarat under NHDP Phase - VI on Hybrid Annuity mode (Phase IA-Package IV).

The company quoted bid project cost at Rs 1687 crore.

At 09:17 hrs Ashoka Buildcon was quoting at Rs 230, up Rs 4.10, or 1.81 percent on the BSE.

Posted by Rakesh Patil