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Ashoka Buildcon share price: Construction engineering company Ashoka Buildcon share rose up to 5.69 per cent to hit an intraday high of Rs 242 per share on Tuesday, November 19, 2024.
The rise in Ashoka Buildcon share price came after the company announced that it has emerged as the lowest bidder (L-1) for a project worth Rs 2,791 crore.
In an exchange filing, Ashoka Buildcon said, “ Ashoka Buildcon Limited (the Company) informs that the Company had submitted a bid for the following Projects of National Highways Authority of India (NHAI). Further to apprise that the Company has been declared as the Lowest Bidder (L-1) for the said Projects.”
The quoted bid price for the projects is Rs 2,791 crore, excluding GST, Ashoka Buildcon said in a statement.
Under the terms of project, Ashoka Buildcon will be responsible for the development of 4 lane economic corridor from Kharagpur to ChandrakonaGhatal road crossing section Km 0.000 to Km 41.000 of NH 116A (Package-I) in West Bengal under Hybrid annuity mode (HAM) Mode; and the development of 4 lane Economic Corridor from Bowaichandi to GuskaraKatwa Road Section Km 89.814 to Km 133.000 of NH 116A (Package-3) in West Bengal under HAM.
Both projects are expected to be completed in 910 days including the monsoon period.
Ashoka Buildcon Ltd specialises in construction and infrastructure development, operating on an EPC (Engineering, Procurement, and Construction) and BOT (Build, Operate, Transfer) basis. The company is also involved in producing and selling Ready Mix Concrete (RMC). As a Fortune India 500 company, Ashoka Buildcon is a leading player in India's highway development sector.
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The company operates as an integrated entity across EPC, BOT, and HAM (Hybrid Annuity Model) projects. Its key segments include Highways & Bridges, Power (EPC), Railway Works, Buildings (EPC), City Gas Distribution, and Smart Infrastructure. With experience in executing or currently handling 41 Public-Private Partnership (PPP) projects, Ashoka Buildcon has a broad footprint across more than 20 states in India.
The market capitalisation of the company is Rs 6,735.95 crore, according to BSE. The company falls under the BSE SmallCap category.
At 9:24 AM, shares of Ashoka Buildcon were trading 5.07 per cent higher at Rs 240.55 per share. In comparison, BSE Sensex was trading 0.65 per cent higher at 77,838.52 levels.
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