Ashoka Buildcon Surges Over 4% As It Receives LoI From Jharkhand Govt

Shares of Ashoka Buildcon are trading high on BSE on the early hours of trade on Thursday session as the company has received Letters of Intent from Jharkhand Bijli Nigam Ltd (JBVNL) for the projects viz. execution of electrification  work for Ranchi and Medininagar towns in Jharkhand and electric supply areas  covering 12 towns in Jharkhand under IPDS scheme.

The aggregate value of the work stands at a whopping amount of Rs 282.73 crore. The market cap of the company stands at 4028.38 crores with total traded quantity stands at 0.36 lakhs. The stock has outperformed BSE Small Cap index and Nifty Infrastructure index on a yearly basis. BSE Small-cap index is gaining the trade and surging up by over 86 points or 0.55% at 15748 levels.

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About Suhani Varma