Ashoka Buildcon gains 5% on receiving LOA from NHAI for Rs 726 cr project
Shares of Ashoka Buildcon rose 5 per cent to Rs 117.15 on the BSE in intra-day trade on Tuesday after the company said it has received letter of acceptance (LOA) from National Highways Authority of India (NHAI) for the development of Memmadpur (Ambala) – Banur (IT City Chowk) – Kharar (Chandigarh) Corridor for a bid price of Rs 726 crore.
The stock of the roads and highways construction company was trading close to its 52-week high of Rs 118.65 touched on February 17, 2021. At 09:41 am, the scrip was quoting at Rs 114.80, up 3 per cent on the BSE, as compared to a 0.41 per cent gain in the S&P BSE Sensex. A combined 2.4 million equity shares had changed hands on the counter on the NSE and BSE at the time of writing this report.
