Ashoka Buildcon emerges as the lowest bidder for two NHAI projects; cost of projects at Rs1,390cr

The first project involves four laning of the Arrah to Pararia section of NH-319 in the state of Bihar under the Bharatmala Pariyojana.

Sep 08, 2020 11:09 IST India Infoline News Service

Ashoka Buildcon
Ashoka Buildcon has informed the exchanges that it has emerged as the L-1 bidder for projects of the National Highway Authority of India (NHAI).

The first project involves four laning of the Arrah to Pararia section of NH-319 in the state of Bihar under the Bharatmala Pariyojana. The 54 km project will be completed in an EPC mode, the company said in the filing on Tuesday.

Reacting to this news, shares of the company is currently trading at Rs72.50, up by Rs4.3 or 6.3% from its previous closing of Rs68.20 on the BSE.

The second is for four laning of the Pararia to Mohania section of NH-319 in the state of Bihar. The 60 km project will also be completed under the EPC mode.

The Company has emerged as the Lowest Bidder (L-1) for above-referred Packages i.e. Package I and Package II. The aggregate quoted value of both the projects is Rs1,390cr, the company said.

The scrip opened at Rs70.40 and has touched a high and low of Rs73.45 and Rs70 respectively.

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