Ashoka Buildcon jumped 5.56% to Rs 47.50 at 09:51 IST on BSE after the company secured four orders aggregating to Rs 494.50 crore for turnkey contracts for electrification work.
The announcement was made after trading hours on Tuesday, 24 September 2013.
Meanwhile, the S&P BSE Sensex was up 14.25 points or 0.07% at 19,934.46
On BSE, 2,233 shares were traded in the counter as against average daily volume of 3,083 shares in the past one quarter.
The stock hit a high of Rs 48.45 and low of Rs 46.25 so far during the day. The stock had hit a record low of Rs 41.30 on 6 August 2013. The stock had hit a 52-week high of Rs 83.32 on 13 May 2013.
The stock had underperformed the market over the past one month till 24 September 2013, falling 6.44% compared with the Sensex's 7.56% gain. The scrip had also underperformed the market in the past one quarter, sliding 26.31% as against Sensex's 7.44% rise.
The small-cap company has equity capital of Rs 78.98 crore. Face value per share is Rs 5.
Ashoka Buildcon received four orders valued at Rs 494.50 crore for turnkey contracts for electrification work for Mahavitaran Infrastructure plan Phase-II floated by Maharashtra State Electricity Distribution Company (MSEDCL).
The first contract for Rs 115.27 crore is for Baramati zone in Kedgaon division, the second contract for Rs 117.79 crore is for Baramati zone in Baramati division, the third order for Rs 106.24 crore is for Baramati zone in Solapur (R) division and the fourth contract for Rs 155.20 crore is from Baramati zone in Barshi dividion.
The company had on 6 August 2013 announced that it has emerged as the lowest bidder for turkey contract for electrification work for Mahavitaran Infrastructure plan Phase - II floated by Maharastra State Electricity Distribution Company (MSEDCL).
Ashoka Buildcon's consolidated net profit declined 26% to Rs 30.44 crore on 0.8% growth in net sales to Rs 468.77 crore in Q1 June 2013 over Q1 June 2012.
Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.
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