Ashoka Buildcon builds up

Ashoka Buildcon is up and about today. The stock is currently up over 3.5% at Rs.46.60, with an intra day low and high at Rs.46.25 and Rs.48.45 respectively. Volumes are robust at around 3000 shares compared to 2000 shares over past two weeks average.

The stock is up, reacting to the Press Release it issued yesterday after market closure. The company announced having received four orders valued at Rs 494.50 crore for turnkey contracts for electrification work for Mahavitaran Infrastructure plan Phase-II floated by Maharashtra State Electricity Distribution Company (MSEDCL).

The break-up of the orders – Rs.115.27 crore for Baramati zone in Kedgaon division; Rs.118 crore for Baramati zone in Baramati division; Rs.106 crore for Baramati zone in Solapur (R) division and Rs.155 crore for Baramati zone in Barshi division.