Ashoka Buildcon bags LoA from South-Western Railway; Stock gains 2.5%

22 Sep 2022 , 09:45 AM

Ashoka Buildcon Limited had submitted its bid to the South Western Railway (“SWR”) and the Company has received a Letter of Acceptance (LOA) from SWR.

As per the filing, the LoA is for the Project viz. ‘Construction of New BG Line Between Chainage 192.000 and Chainage 171.640 including Electrical & Telecommunication Works Between Tolahunse (Ex.) & Bharmasagar (Ex.) Stations on Engineering, Procurement & Construction (EPC) Mode’ (“Project”).

Further, the accepted Bid Project Cost for the Project is Rs258.12 crore.

The completion period is 24 months from the date of Appointed Date, the company said on Wednesday.

At around 9:46 AM, Ashoka Buildcon Ltd is currently trading at Rs84.55 per share up by Rs2.1 or 2.55% from its previous closing of Rs82.45 per share on the BSE.

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