Rs 15,067 crore order book & FIIs increase stake: This multibagger civil construction company emerged as L1 bidder for an order worth Rs 520 crore from NHAI!

The stock gave multibagger returns of over 140 per cent from its 52-week low of Rs 71.30 per share.

Today, one of the Top Gainers on BSE, shares of Ashoka Buildcon Ltd surged 6.95 per cent to make a new 52-week high of Rs 173.20 per share from its previous closing of Rs 161.95. The shares of the company saw a spurt in volume by more than 2.46 times on BSE.

Ashoka Buildcon has emerged victorious in its bid for a major infrastructure project, submitting the lowest offer of Rs 520 crore to the National Highways Authority of India for the six-laning of a key section of NH-2 in Bihar. This prestigious project aligns with the Bharatmala initiative and promises to improve connectivity between Aurangabad and the Bihar-Jharkhand border. Ashoka Buildcon's success in this competitive bidding process bodes well for its future prospects in the infrastructure development sector.

Earlier, Ashoka Buildcon, as the lead member of a joint venture, has secured a lucrative contract from CIDCO for the design and construction of Stilt Bridge SBR-9, a key component of the Navi Mumbai International Airport's eastern connectivity project. The contract, valued at Rs 662.55 crore excluding GST, marks a significant achievement for the company, further solidifying its position in India's infrastructure development landscape.

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).

Order Book Updates: The company's current order book as of September 30, 2023, stands at Rs 15,067 crore i.e., 1.6x FY23 revenue. Projects won worth Rs 9,453 crore in FY23.

The company has a market cap of Rs 4,838 crore and reported positive numbers in its Quarterly Results and annual results. In the December quarter (Q3FY23), FIIs have increased their stakes from 2.97 per cent to 4.51 per cent. The shares of this company are trading at a PE multiple of 13.2x, an ROE of 26.5 per cent and an ROCE of 38.6 per cent, all of which point to strong managerial performance.

The stock gave multibagger returns of over 140 per cent from its 52-week low of Rs 71.30 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.