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Ashoka Buildcon share price gains on bagging Rs 600-crore contract

Ashoka Buildcon won the contract for developing Mumbai's Grand Port Hospital into a 600-bed super-speciality hospital and medical college with residential quarters

July 30, 2021 / 12:27 PM IST
 
 
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Ashoka Buildcon share price was up more than 3 percent intraday on July 30 after the company signed an agreement for a Rs 600-crore contract.

In a filing to BSE, Ashoka Buildcon Limited said it won the contract for developing Mumbai's Grand Port Hospital into a 600-bed super-specialty hospital and medical college with residential quarters of Zodiac Healotronics Private Limited, an Ajeenkya DY Patil Group Company. The accepted EPC contract value of the project, which has to be completed in 60 months, is Rs 600 crore, it said.

The stock was trading at Rs 109.60, up Rs 3.95, or 3.74 percent. It touched an intraday high of Rs 110.55 and an intraday low of Rs 104.75.

The scrip was trading with volumes of 134,391 shares, compared to its five -day average of 123,048 shares, an increase of 9.22 percent.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the Ashoka Buildcon has zero promoter pledge. With the company efficient in managing assets to generate profits, ROA has been improving for the past two years.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Jul 30, 2021 11:55 am
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