Ashoka Buildcon rose 15.5% in the morning trades to Rs.265, just Rs.3 short of its 52-week high of Rs.268.50, which it had hit on 29th Nov’17.

The stock is up after it announced that it has emerged as the lowest bidder for two projects  worth Rs.447.51 crpre.

This is from the Ministry of Road Transport & Highway (MoRT&H) through Public Works Department, National Highway (P.W.D), Maharashtra.

This includes up-gradation of Jalgaon-Bhadgaon section and upgradation of Bhadgaon-Chalisgaon section of NH 753J. Both the orders will be executed on the EPC mode.

The company yesterday also declared an interim dividend for FY18 of 80 paise/share with FV of Rs.5/share. The record date is 28th March’18.