Ashoka Buildcon shares gain over 11% after back-to-back orders worth over ₹1,400 crore

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Ashoka Buildcon shares surged over 11 percent after securing a second major order in two days, including a solar plant project in Bhutan and an NHAI highway dea

Ashoka Buildcon shares surged over 11% on Wednesday, November 11, after the company said it received its second order in two days.

The Nashik-based company had submitted a bid for the project to Druk Green Power Corporation Limited, Bhutan. This project includes the design, supply, installation, testing and commissioning of the 120 MWp Wobthang Solar PV Power Plant’. The project is valued at around $58 million or over ₹543 crore.

It has a defect liability period of 24 months, and is expected to be completed in 18 months.

On Tuesday, November 10, the company had bagged another LoA from the National Highways Authority of India (NHAI) for the Vadodara-Mumbai Expressway in Gujarat for an order worth ₹865.90 crore.

The project comprises balance construction works on an eight-lane, access-controlled expressway section from Km 128.0 to Km 154.6, between Karvad and Jujuwa in Gujarat.

The works will be carried out under the engineering, procurement and construction (EPC) model. Earlier this month, the company had said it was declared the lowest (L1) bidder for the project.

Last month, the infrastructure and construction company received another LoA from North Eastern Railway for a ₹290.23 crore contract to upgrade electric traction power supply facilities in Uttar Pradesh. The contract covers the design, supply, erection, testing and commissioning of traction substations and associated switching posts for a 2x25-kilovolt alternating current (AC) traction feeding system.

Shares of Ashoka Buildcon have surged over 11% intraday today. The stock has risen over 8% in the past month but has declined 14% in the last six months and 32% this year, so far.

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