Ashoka Buildcon Bags Order Worth Rs 646 Cr From Maharashtra Electricity Board

Mid cap company operating in infrastructure sector, Ashoka Buildcon on Wednesday rallied 0.33% intraday after the company informed BSE that it secured an order worth Rs 646 crore from Maharashtra State Electricity Distribution Company. Current market price of Ashoka Buildcon share on BSE is Rs 106.15 apiece. Ashoka Buildcon stock gained 32% in last 3-months and soared 41% in last 6-months. Check details below:

Ashoka Buildcon Receives Order From Maharashtra Electricity Board: According to the BSE filing of Ashoka Buildcon dated September 19, 2023, "Ashoka Buildcon Limited ("the Company") informs that the Company has received Notifications of Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for ''Development of Distribution Infrastructure under Revamped Distribution Sector Scheme (RDSS) for Loss Reduction Works at the following Circles in the state of Maharashtra'' ("Project"). 1. Yavatmal Circle Amravati Zone 2. Nashik Urban Circle Nashik Zone 3. Latur Circle Latur Circle 4. Osmanabad Circle Latur Circle The accepted Contract Value in aggregate for all above Projects is Rs. 645.70 Crores, excluding GST."

Ashoka Buildcon Stock Outlook & Return: Current market price of Ashoka Buildcon share is Rs 106.15 on BSE at the time of writing the story. Its 52-week high price is Rs 116.50 per share and 52-week low price is Rs 70.10 apiece, respectively. The company's market capitalisation is Rs 2,979.88 crore.

Ashoka Buildcon stock offered shareholders 25% return in last 1-year, gained 9% in last 2-years, and soared 47% in last 3-years. Ashoka Buildcon shares fell 10% in last 5-years. In last 10-years, Ashoka Buildcon stock surged 236%.

Ashoka Buildcon Financials: The company for the quarter ended June 30, 2023 announced its net sales at Rs 1532.06 crore, up 3.58% as against Rs 1479.05 crore in June 2022. The quarterly net profit was announced at Rs 16.44 crore in June 2023, down 84.24% from Rs 104.33 crore in June 2022. Its EBITDA stood at Rs. 95.49 crore in June 2023, down 45.69% from Rs 175.82 crore in June 2022.

Ashoka Buildcon About: Ashoka Buildcon Limited is a Fortune India 500 company and one of the leading highway developers in India. The company is an integrated EPC, BOT and HAM player.