Shares of Ashoka Buildcon rose by 2.73% to ₹241.49 as of 9:19 am today after the company announced it had bagged an Engineering, Procurement, and Construction (EPC) order worth ₹192.69 crore from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Limited.
The project entails the procurement, installation, testing, and commissioning of new 11 kV lines and associated infrastructure under the feeder separation programme funded by KfW, with a completion timeline of 24 months.
However, the company also disclosed a setback in another project bid. The National Highways Authority of India (NHAI) cancelled the bid for the Kharagpur-Chandrakona-Ghatal road project (Package-1) in West Bengal due to Ashoka Buildcon being the sole bidder. The project was part of NHAI’s economic corridor initiative and involved developing a 41 km stretch under the Hybrid Annuity Mode.
In contrast, the company received the Letter of Award for the Bowaichandi-Guskara-Katwa project (Package-3), covering a 43 km stretch. This update highlights the company’s continued efforts to expand its portfolio, despite challenges in select bids.
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