Ashoka Buildcon rises on new order win

Ashoka Buildcon Limited  has received a letter of acceptance from Fahi Dhiriulhun Corporation, a state-owned company of the Government of Maldives, for the project of design & construction of 2,000 social housing units in Hulhumale (Maldives).  

The project is given on an engineering, procurement & construction (EPC) basis. The total value of this project is estimated to be around Rs 1,018.36 crore.  

Reacting to this, the company’s stock today increased by 3.19 per cent and made an intraday high of Rs 95.30 per share. Besides, it has also increased by 83.45 per cent from its decline in May 2020.  

Ashoka Buildcon Ltd is engaged in the business of the construction of infrastructure facilities on an EPC and build-operate-transfer (BOT) basis along with the sale of ready mix concrete.  

According to BSE data, the stock traded at a P/E multiple of 6.12 and a price-to-book ratio of 0.94. The stock has a 52-week high and a 52-week low of Rs 118.65 and Rs 48.70, respectively.  

At 11.38 am, the stock of the company was trading at Rs 92.70, up by 0.38 per cent on BSE.