Ashoka Buildcon share price rose 5 percent in the early trade on October 14 after the company received Letter of Acceptance (LoA) for two project from Maharashtra State Road Development Corp. Ltd. (MSRDCL).
At 09:34am, Ashoka Buildcon was quoting at Rs 265.65, up Rs 13.85, or 5.50 percent, on the BSE.
The company received engineering, procurement and construction (EPC work) of Rs 310 crore for construction of major bridge across Bankot Creek between Kolmandla, District Raigad to Veshvi on Revas Reddi Costal Highway No. 5 in Ratnagiri District in state of Maharashtra’.
The project is to be executed in 36 months including monsoon.
The company bagged another project from MSRDCL worth Rs 1,999.99 crore for construction of major bridge across Jaigad Creek between Tawsal and Jaigad and construction of major bridge across Kundalika Creek between Revdanda to Salav on Revas Reddi Coastal Highway in Ratnagiri District in the state of Maharashtra.
Both these projects are to be executed in 36 months including monsoon.
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Earlier in this month, the company bagged the project worth Rs 1,673.24 crore from City & Industrial Development Corporation of Maharashtra Limited (CIDCO).
Also, the company has been declared as the lowest bidder for project worth Rs 918 crore by Brihanmumbai Municipal Corporation (BMC).
Mumbai Metropolitan Region Development Authority (MMRDA) also awarded a project worth Rs 474.10 crore for design and construction of elevated road from KalyanMurbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dughdhalaya) to Pune Link Road parallel to Waldhuni River crossing over Karjat- Kasara railway line including slip road.
The share touched a 52-week high of Rs 284.75 and a 52-week low of Rs 120.90 on 06 September, 2024 and 26 October, 2023, respectively.
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