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Ashoka Buildcon surges over 10 per cent on receiving order worth Rs 333 crore

Ganesh V
/ Categories: Mindshare, Edaily, DSIJ News
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Ashoka Buildcon surges over 10 per cent on receiving order worth Rs 333 crore

Ashoka Buildcon Limited announced on Thursday after the market hours that it has received a letter of award (LOA) from Gujarat Rail Infrastructure Development Corporation Limited (G-RIDE) for the gauge conversion of Bechraji (63.83 km)-Ranuj (101.983 km) section.  

The total length of the project is 38.153 km. The work involves transforming metre gauge to broad gauge with 25 KV AC electrification in Ahmedabad division of western railway. The accepted project cost is Rs 333.625 crore.  

Reacting to this, the company’s stock today inched higher by 10.74 per cent and made an intraday high of Rs 98.50 per share. 

Meanwhile, the company reported a net profit of Rs 83.54 crore in Q3FY21. It had reported a profit of Rs 21.77 crore in Q3FY20, which is an increase of 283.78 per cent. The company reported net sales of Rs 1,305.49 crore for Q3FY21, an increase of 1.96 per cent as against the net sales of Rs 1,280.36 crore for Q3FY20.   

According to BSE data, the stock traded at a P/E multiple of 5.89 and a price-to-book ratio of 0.90. The stock has a 52-week high and a 52-week low of Rs 118.65 and Rs 48.70, respectively.   

At 12.35 pm today, the stock of the company was trading at Rs 94.40, up by 6.13 per cent on BSE.

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