Ashoka Buildcon’s shares experienced a strong surge today, rising by 4.21% to ₹278.69 as of 9:34 AM on the National Stock Exchange (NSE), following positive news surrounding the company’s recent activities.
The stock opened at ₹275.00, reaching an intraday high of ₹284.74, with a low of ₹270.01. This surge follows the company’s previous close of ₹267.43. The rise in stock price comes after Ashoka Buildcon disclosed that its wholly-owned subsidiary, Viva Highways Limited (VHL), had successfully monetized land in Hinjewadi, Pune, for a total consideration of ₹453 crore. This development was detailed in a stock exchange filing, signaling a boost to the company’s liquidity.
Additionally, last month, Ashoka Buildcon announced that it had emerged as the lowest bidder for two major infrastructure projects from the Mumbai Metropolitan Region Development Authority (MMRDA), valued at approximately ₹1,280.8 crore. The projects involve the design and construction of creek bridges between Kolshet and Kalher, as well as between Gaimukh and Payegaon. Both contracts fall under Engineering, Procurement, and Construction (EPC) work, further reinforcing the company’s position in the infrastructure sector.
