Ashoka Buildcon share price rises 12% on LoA from NHAI

Ashoka Buildcon

Ashoka Buildcon share price rose 12 percent in early trade on November 25 after the company bagged an order from National Highways Authority of India (NHAI).

The company’s subsidiary Ashoka Concessions (ACL) has received a Letter of Award (LoA) from NHAI for the project of 4 laning of NH-161 from Kandi to Ramsanpalle in the State of Telangana under Bharatmala Pariyojna on hybrid annuity mode.

The accepted bid project cost is Rs 1,000 crore.

At 0921 hrs, Ashoka Buildcon was quoting at Rs 99.35, up Rs 6.10, or 6.54 percent on the BSE.

The share touched its 52-week high of Rs 155 and its 52-week low of Rs 89.85 on 30 May 2019 and 5 September 2019, respectively.

Currently, it is trading 36 percent below its 52-week high and 10.41 percent above its 52-week low.

The share price down over 20 percent in the last 1 year.

News Source: moneycontrol

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