Rs 10,356 crore order book: Multibagger civil construction company bags new orders worth 4047,85,00,000 from MSRDCL and MMRDA
The shares of the company saw a spurt in volume by more than 3.15 times on BSE.
On Monday, the shares of Ashoka Buildcon Ltd gained 2.26 per cent to Rs 257.50 per share from its previous closing of Rs 251.80 with an intraday high of Rs 272 and an intraday low of Rs 255. The stock gave multibagger returns of 113 per cent from its 52-week low of Rs 120.90 per share. The shares of the company saw a spurt in volume by more than 3.15 times on BSE.
Ashoka Buildcon Limited has secured three significant contracts from the Maharashtra State Road Development Corporation Ltd. (MSRDCL). The projects involve the construction of major bridges across Jaigad Creek, Kundalika Creek, and Bankot Creek on the Revas Reddi Coastal Highway in Ratnagiri District, Maharashtra. The total accepted bid price for all three projects is Rs 2,309.99 crore, excluding GST. These EPC (Engineering, Procurement, and Construction) contracts are valued at Rs 715.99 crore, Rs 1,284 crore and Rs 310 crore respectively and are expected to be completed within 36 calendar months, including monsoon seasons.
Earlier, Ashoka Buildcon Limited secured three significant contracts from the Mumbai Metropolitan Region Development Authority (MMRDA). The projects involve the design and construction of creek bridges and an elevated road in the Mumbai Metropolitan Region. The total accepted contract value for all three projects is Rs 1,737.86 crore, excluding GST. These EPC (Engineering, Procurement, and Construction) contracts are valued at Rs 288.18 crore, Rs 975.58 crore and Rs 474.10 crore respectively and are expected to be completed within 30 to 42 months, including monsoon seasons.
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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). The company has a market cap of over Rs 7,200 crore and its current order book as of June 30, 2024, stands at Rs 10,356 crore.
In June 2024, FIIs and DIIs increased their stake to 7.63 per cent and 19.32 per cent, respectively compared to 7.23 per cent and 17.63 per cent, respectively in March 2024. 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.