Ashoka Buildcon jumps up 12%

Ashoka Buildcon showed a spectacular, over 13.5 times rise in volumes today, going up 12% to Rs.134.40.

The company announced on Saturday that it has received Letter of Acceptance by Rail Vikas Nigam Limited.

This is for construction of roadbed, bridges, supply of ballast, Installation of track (excluding supply of rails, and track sleepers), Electrical (General Electrification), Provision of OHE, Signaling and telecommunication works in connection with 3rd Line from Sonnagar to Garhwa Road in Dhanbad Division of East Central Railway," in the States of Bihar and Jharkhand ("Project") in 2 packages.

The company had bid for the Project in JV with Story Tech Services LLC, wherein the company was a Lead Member.

The aggregate accepted Bid Value of the Project is Rs.794 crore.