Infrastructure major Ashoka Buildcon Ltd (ABL) has received a Letter of Award for a Rs 116.72-crore project in Bihar.

“The company has received a Letter of Award for the project namely Turn Key contracts for providing APL Service Connection with LT line Extension under State Plan (Mukhyamantri Vidhyut Sambandh Nischay Yojna) in 7 circles under the jurisdiction of North Bihar Power Distribution Co. Ltd, Patna for NIT No. 88/ PR/NBPDCL/2016 Motihari Circle in the state of Bihar,” said the company in a regulatory filing.

Shares of the company surged more than 3% intraday Monday on BSE after the announcement came in. At 10.33 am, the Rs 5 face value shares were trading at Rs 189.30, up 2.91% from the previous closing of Rs 183.95.

Headquartered in Nashik, Ashoka Buildcon is one of India’s leading road infrastructure companies. It focuses on construction and maintenance of roads and supporting services to land support-operation of toll roads and others. The company operates through three segments namely construction and contract related activities, BOT projects, and sales of goods.

Last month, the company received Letters of Intent for new project orders worth Rs 949.88 crore from North and South Bihar Power Distribution Company Ltd, the scope of which included rural electrification works of Sitamarhi, West Champaran, Munger, Patna and Sasaram districts in Bihar under Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY).

here is company details.

 

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