Ashoka Buildcon gains 5% on receiving LOA from NHAI for Rs 726 cr project

The company has received letter of acceptance from NHAI for development of Memmadpur (Ambala) - Banur (IT City Chowk) - Kharar (Chandigarh) Corridor for a bid price of Rs 726 crore

Shares of Ashoka Buildcon rose 5 per cent to Rs 117.15 on the BSE in intra-day trade on Tuesday after the company said it has received letter of acceptance (LOA) from National Highways Authority of India (NHAI) for the development of Memmadpur (Ambala) - Banur (IT City Chowk) - Kharar (Chandigarh) Corridor for a bid price of Rs 726 crore.

The stock of the roads and highways construction company was trading close to its 52-week high of Rs 118.65 touched on February 17, 2021. At 09:41 am, the scrip was quoting at Rs 114.80, up 3 per cent on the BSE,