Ashoka Buildcon, Sadbhav Engineering gain up to 6% in range-bound market

Sadbhav Engineering soared 6% to Rs 230 after the company said it received an appointment letter dated January 5, 2019 for road contract worth Rs 1,620 crore of Maharashtra Samruddhi Mahamarg.

Shares of infrastructure companies Ashok Buildcon and Sadbhav Engineering rallied up to 6% on BSE in an otherwise range-bound market on Tuesday.

Sadbhav Engineering soared 6% to Rs 230 apiece after the company in its press release said it had received road contract worth Rs 1,620 crore of Maharashtra Samruddhi Mahamarg. The stock was trading at its highest level since October 22, 2018 on the BSE.

The contract is for construction of access controlled Nagpur Mumbai Super Communication Expressway (Maharashtra Samruddhi Mahamarg) in the state of Maharashtra on EPC Mode for Package 5, From Km. 217.023 to Km. 259.900