Ashoka Buildcon receives LoA for project worth Rs 333.63 crore

Ashoka Buildcon receives LoA for project worth Rs 333.63 crore

Shares of Ashoka Buildcon rallied over 10% after the company received a Letter of Award (LOA) from Gujarat Rail Infrastructure Development Corporation for a project worth Rs 333.625 crore.
The stock price rose as much as 10.7% to an intraday high of Rs 98.50 apiece on the BSE. The shares have gained more than 58% in the last six months.
Ashoka Buildcon had submitted a bid to Bahucharaji Rail Corporation Ltd (BRCL), Gandhinagar, represented by the Gujarat Rail Infrastructure Development Corporation Ltd (G-RIDE) for the project that included gauge conversion of Bechraji (63.83 KM) – Ranuj (101.983 KM) Section with a total length of 38.153 km with 25 KV AC Electrification in Ahmedabad Division of Western Railway.

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