Ashoka Buildcon emerges L-1 bidder for Rs1,668.50 crore NHAI project; Stock gains 3.7%

Ashoka Buildcon Limited has submitted Bid to National Highway Authority of India (NHAI) for the Project viz. 'Request for proposal for Construction of 6 lane Elevated Corridor along with development of existing 4 lane road at ground level from Aroor to Thuravoor Thekku section of NH - 66 (from Km. 366+330 to Km. 379+082 of NH-66) (Length 12.752 Km) under Bharatmala Pariyojana in the State of Kerala on EPC mode ("Project").

The Company has emerged as the Lowest Bidder (L-1) for the Project, the Bid Value of which is Rs1,668.50 crore, the company said in a filing on Wednesday.

At around 11:51 AM, Ashoka Buildcon Ltd is currently trading at Rs79.65 per share up by Rs2.85 or 3.71% from its previous closing of Rs76.80 per share on the BSE.

The scrip opened at Rs77 per share and has touched a high and low of Rs79.80 per share and Rs77 per share respectively so far today. The current market cap of the company is Rs2,155.95 crore.