Ashoka Buildcon, a leading name in India's infrastructure sector, experienced a notable rise in its share price on November 19, 2024, after emerging as the lowest bidder for a ₹2,791 crore project. The company's share price surged by 5.69%, hitting an intraday high of ₹242 per share.
This positive movement has made Ashoka Buildcon an attractive option for share market investment as investors look to capitalise on the company's continued success in securing high-value projects like this one. The boost in share value reflects the market's confidence in Ashoka Buildcon's strong position within the infrastructure industry.
Key project details and future expectations
The ₹2,791 crore project involves the development of two major economic corridors under the National Highways Authority of India (NHAI). The first project spans the 4-lane highway from Kharagpur to ChandrakonaGhatal road in West Bengal, while the second involves a corridor from Bowaichandi to GuskaraKatwa road. Both projects are slated for completion within 910 days, including the monsoon period. Ashoka Buildcon's track record in delivering infrastructure projects on time positions it well for successful execution.
As a leader in India's highway sector, Ashoka Buildcon's portfolio includes a range of projects across Highways & Bridges, Power, Railway Works, and Smart Infrastructure. The company is also engaged in producing Ready Mix Concrete (RMC), further diversifying its operations. With a strong market capitalisation of ₹6,735.95 crore, Ashoka Buildcon continues to be a key player in India's construction and infrastructure development landscape.
Key takeaways
For those exploring share market investment opportunities, Ashoka Buildcon's recent growth and project wins highlight its potential as a strong player in the infrastructure sector.
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