Ashoka Buildcon rallies over 13% on 2 new projects

Reuters | Updated on March 21, 2018 Published on March 21, 2018

Shares of Ashoka Buildcon surged as the company has got a contract for 2 road projects. The construction and engineering firm stock rallied as much as 13.3 per cent to Rs 263.20, its highest since February 15.

The company was the lowest bidder for two road projects on NH 753J in Maharashtra. Aggregate cost quoted by Ashoka Buildcon for the projects is Rs 448 crore ($68.71 million).

The stock posted its biggest intraday percentage gain since July 2015. Over 1 million shares traded compared to 30-day average of 277,270 shares.

Published on March 21, 2018
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