Ashoka Buildcon gets LoA from Eastern Central Railway; Stock surges 2.5%

4 Aug 2022 , 09:18 AM

Ashoka Buildcon Ltd has informed to the exchanges regarding receipt of letter of acceptance (LoA) for a project.

As per the filing, the company had submitted its bid to the East Central Railways (“ECR”) and it has received a Letter of Acceptance (LOA) from ECR for the Project viz. ‘Provision of Train Collision Avoidance System (KAVACH) along with two (twenty four) 24 Fiber OFC backbone in the sections between Pt. Deen Dayal Upadhyay (DDU) and Pradhankhunta (PKA) of the East Central Railway section.’

The accepted Bid Project Cost for the said project is Rs208.89 crore.

Further in addition to this, the completion period is 24 months from the date of LoA, the company informed in a said filing.

At around 9:18 AM, Ashoka Buildcon Ltd is currently trading at Rs77.15 per share up by Rs1.9 or 2.52% from its previous closing of Rs75.25 per share on the BSE.

The scrip opened at Rs76.35 and has touched a high and low of Rs77.45 and Rs76.35 respectively so far today. The current market cap of the company is Rs2,112.44 crore.