Ashoka Buildcon Ltd shares rose nearly 3% following the announcement of a significant infrastructure contract awarded by Central Railway. The company received a Letter of Acceptance (LoA) for an Engineering, Procurement, and Construction (EPC) project valued at ₹568.86 crore, inclusive of GST.
As per the stock exchange filing dated April 22, the contract involves comprehensive civil works for the gauge conversion project between Pachora and Jamner, covering approximately 53.3 km. The project includes earthwork, construction of major and minor bridges, road under bridges (RUBs), permanent way (P. Way) work, and other essential civil engineering tasks. Notably, the Pachora yard and road over bridges are excluded from the scope.
This EPC project will be executed over a span of 913 days and has been awarded by a domestic public sector entity. It is not classified as a related party transaction, ensuring transparency and compliance with corporate governance norms.
Ashoka Buildcon shares opened at ₹205.00 today, reaching a high of ₹206.99 and a low of ₹204.11 during trading. Despite current levels, the stock remains well below its 52-week high of ₹319.00, though still comfortably above its 52-week low of ₹159.34.
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