 "Ashoka Buildcon gains on receiving LoA from NHIDCL")
Ashoka Buildcon has rallied 5% to Rs 194 on the BSE in otherwise weak market after the company along with Bhartia Infra Projects has received letter of acceptance (LOA) from National Highways & Infrastructure Development Corporation (NHIDCL) for road project.
The accepted bid value of the project is Rs 155.81 crore.
“The company along with Bhartia Infra Projects had bid for the project viz. 2 laning with paved shoulder of NH - 52 KM 583.450 to KM 605.600 (existing chainage from KM 583.450 to KM 595.00) from Pasighat to Bomjur road including realignment from KM 591.900 to 602.600 (design length = 22.15 KM) in Arunachal Pradesh package of SARDP-NE on EPC mode issued by National Highways & Infrastructure Development Corporation Limited (NHIDCL). The Consortium has received Letter of Acceptance from NHIDCL,” Ashoka Buildcon said in a BSE filing.
Ashoka Buildcon’s held 49% share in consortium.
At 09:30 am, the stock was up 3.3% at Rs 191 on the BSE as compared to 0.69% decline in the S&P BSE Sensex. A combined 180,016 equity shares changed hands on the counter on the BSE and NSE so far.
The accepted bid value of the project is Rs 155.81 crore.
“The company along with Bhartia Infra Projects had bid for the project viz. 2 laning with paved shoulder of NH - 52 KM 583.450 to KM 605.600 (existing chainage from KM 583.450 to KM 595.00) from Pasighat to Bomjur road including realignment from KM 591.900 to 602.600 (design length = 22.15 KM) in Arunachal Pradesh package of SARDP-NE on EPC mode issued by National Highways & Infrastructure Development Corporation Limited (NHIDCL). The Consortium has received Letter of Acceptance from NHIDCL,” Ashoka Buildcon said in a BSE filing.
Ashoka Buildcon’s held 49% share in consortium.
At 09:30 am, the stock was up 3.3% at Rs 191 on the BSE as compared to 0.69% decline in the S&P BSE Sensex. A combined 180,016 equity shares changed hands on the counter on the BSE and NSE so far.