Small Cap Stock Surges On Securing Order Worth Rs 645.70 Crore From MSEDCL

The shares of Ashoka Buildcon Ltd. on Wednesday surged more than 3% trading hours after the company informed the exchanges that it secured an order worth Rs 645.70 Crore ( excl. GST.) from Maharashtra State Electricity Distribution Company (MSEDCL).

The company has received the 'notification of award' for the development of distribution infrastructure under the revamped distribution sector scheme for loss reduction works. The order-win is for the works in Yavatmal, Nashik Urban, Latur, and Osmanabad circles.

"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")," the company said in its regulatory filing.

Sr. No.	Name of Circle	Amount Rs. (In Crore)
1	Yavatmal Circle Amravati Zone	167.02
2	Nashik Urban Circle Nashik Zone	134.43
3	Latur Circle Latur Zone	170.99
4	Osmanabad Circle Latur Zone	173.26

Meanwhile, the shares of Ashoka Buildcon closed 0.28% higher at Rs 105.90 apiece on the BSE. The stock surged 3.93% to hit the day's high of Rs 109.75 and the day's low of Rs 105.50.

The stock gained 2.32% in 1 week, and 5.83% in 1 month. It gained 24.81% in 1 year, 9.01% in 2 years, and 47.39% in 3 years, respectively. It declined 9.87% in 5 years.

The stock hit a 52-week high on Sept 07, 2023, at Rs 116.50 apiece, while it hit 52-week low on Nov 16, 2022, at Rs 70.10 apiece on the BSE. It has a market valuation of Rs 2,972.86 Crore.

Ashoka Buildcon Ltd. is a small cap Civil Construction company, engaged in the business of infrastructure construction and development. The company specialises in constructing and upgrading roads, highways, bridges, and other vital infrastructure projects in India.