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Ashoka Buildcon gains on winning order
09-Oct-19   13:55 Hrs IST

The order is for Kerala State Information Technology Infrastructure, Smart Infrastructure Project. The work order calls for conducting survey, supply of poles & installation, laying of the overhead and underground optic fiber cable, on existing electricity poles, supply, installation, testing and commissioning of non-IT items.

The duration of project is 24 months from the date of commencement of the work. The announcement was made during market hours today, 9 October 2019.

Shares of Ashoka Buildcon gained 1.28% in two trading sessions to its current market price of Rs 98.40, from a recent closing low of Rs 97.15 on 4 October 2019.

Meanwhile, the S&P BSE Sensex was up 283 points or 0.75% to 37,815.14.

On the BSE, 4,664 shares were traded in the counter so far compared with average daily volumes of 17,391 shares in the past two weeks. The stock hit an intraday high of Rs 99.25 and an intraday low of Rs 97 so far during the day.

The stock hit a 52-week high of Rs 155 on 30 May 2019. The stock hit a 52-week low of Rs 89.85 on 5 September 2019.

On a consolidated basis, Ashoka Buildcon reported net loss of Rs 19.61 crore in Q1 June 2019 compared with net loss of Rs 5.02 crore in Q1 June 2018. Net sales rose 21.4% to Rs 1,168.14 crore in Q1 June 2019 over Q1 June 2018.

Ashoka Buildcon is engaged in construction & maintenance of roads and supporting services to land support-operation of toll roads.

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