Ashoka Buildcon shares rose nearly 3% after its wholly-owned subsidiary, Ashoka Bowaichandi Guskara Road Private Ltd, signed a concession agreement with the National Highways Authority of India (NHAI). The project involves developing a four-lane economic corridor on the Bowaichandi to Guskara-Katwa Road Section of NH 116A in West Bengal.
Valued at ₹1,391 crore, the project will be executed under the hybrid annuity mode and is expected to be completed within 910 days, including the monsoon period. The SPV (special purpose vehicle) formed for this project underscores Ashoka Buildcon’s expertise in executing large-scale infrastructure developments.
Ashoka Buildcon’s stock opened at ₹290, reached a high of ₹290.95, and a low of ₹282.65 today. The company’s shares are trading near their 52-week high of ₹319.
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