Ashoka Buildcon’s shares saw a rise of nearly 3% on Monday after the company was announced as the lowest bidder for a significant project worth ₹478 crore.
The project, awarded by the Mumbai Metropolitan Region Development Authority (MMRDA), involves the design and construction of an elevated road from Kalyan-Murbad Road to Badlapur Road. This road will run parallel to the Waldhuni River and cross over the Karjat-Kasara railway line, including a slip road.
The project is expected to be completed within 36 months, including the monsoon period.
As of 10:28 AM, Ashoka Buildcon’s shares were trading 1.42% higher at ₹236.05 on the NSE.
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Ashoka Buildcon