Ashoka Buildcon stock spurts 8.7% on receiving LoA for Rs693 crore project from Northeast Frontier Railway

25 Feb 2022 , 11:18 AM

Ashoka Buildcon Limited has received Letter of Acceptance from N F RLY Construction.

The LOA is for the Project viz. ‘Electrification of Railway Lines of the sections Rangiya (Excl.)- Murkongselek including branch lines of Rangapara North (Excl.)-Dekargaon, Balipara(Excl.)- Bhalukpong, Harmuty (Excl.)-Naharlagun, Sripani – Dhamalgaon(Excl) , Furkating Jn.(Excl.) to Mariani in.(Excl.) and Tinsukia to Dangri Section including branch line of Makum in to Tirap, Northeast Frontier Railway RKM / TKM – 733.35 /947.59 on EPC mode’; in the State of Assam.

Further, the accepted offer of the Project is Rs692.50 crore and the contract period is 900 days, said Company.

At around 11:21 AM, Ashoka Buildcon was trading at Rs89 apiece up by Rs7.15 or 8.74% on Sensex.