Ashoka Buildcon’s shares rose 3.9% to ₹261.70 at 2:25 pm on October 14, compared with Friday’s closing price of ₹251.80. The stock opened at ₹266.05, having touched a high of ₹272.25 and a low of ₹261.55 on the BSE.
The company said it had received an engineering, procurement, and construction (EPC) contract from the Maharashtra State Road Development Corporation Ltd. The accepted bid price for the project is ₹1,999.99 crore.
The scope of the order is to construct a major bridge across the Kundalika Creek between Revdanda and Salav on the Revas-Reddi Coastal Highway (SH [Special] No. 5) in the Ratnagiri District of Maharashtra. The project is to be completed within 36 months.
The company also announced another order worth ₹310 crore from the Maharashtra State Road Development Corporation Ltd. This contract is for the construction of a major bridge across the Bankot Creek between Kolmandla, Raigad District, and Veshvi on the Revas-Reddi Coastal Highway in the Ratnagiri District, also on an EPC basis. The project is to be completed within 36 calendar months.
Ashoka Buildcon Ltd is an infrastructure company in India, specialising in the construction of roads, railways, and other civil engineering projects.