Rs 15,805 crore order book: This civil construction company receives order worth Rs 645.70 crore from Maharashtra State Electricity Distribution Company Limited!
The stock is up by 50 per cent from its 52-week low of Rs 70.10 per share.
Ashoka Buildcon Ltd, a leading civil construction in India informs that the company has received an order worth Rs 645.70 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the development of distribution infrastructure under the Revamped Distribution Sector Scheme (RDSS) for loss reduction works at the following circles in the state of Maharashtra (Project).
1) Yavatmal Circle Amravati Zone order is worth Rs 167.02 crore.
2) Nashik Urban Circle Nashik Zone order is worth Rs 134.43 crore.
3) Latur Circle Latur Zone order is worth Rs 170.99 crore.
4) Osmanabad Circle Latur Zone order is worth Rs 173.26 crore.
Ashoka Buildcon Ltd is engaged in the construction and infrastructure facilities business on an EPC (engineering, procurement and construction) and BOT (Build-Operate-Transfer) basis. It is also involved in the sale of RMC (ready-mix concrete).
On Friday, shares of Ashoka Buildcon Ltd plunged 0.77 per cent to Rs 103.60 per share with an intraday high of Rs 105.40 and an intraday low of Rs 102.55. The stock has a 52-week high of Rs 116.50 and a 52-week low of Rs 70.10.
Order Book Updates: The company's current order book as of June 30, 2023, stands at Rs 15,805 crore. Furthermore, the company has already secured projects worth more than Rs 3,000 crore for FY23-24, bringing the total order book to Rs 18,805 crore.
The company has a market cap of over Rs 2,900 crore and reported positive numbers in its Quarterly Results and annual results. The shares of this company are trading at a PE multiple of 5x, an ROE of 27 per cent and an ROCE of 39 per cent, all of which point to strong managerial performance.
The stock is up by 50 per cent from its 52-week low of Rs 70.10 per share. Investors should keep an eye on this Small-Cap stock for upcoming trading sessions.
Disclaimer: The article is for informational purposes only and not investment advice.
Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 699/- Click here to subscribe now