Ashoka Buildcon Secures Rs 646 Crore Contract from Maharashtra Electricity Board, Shares Rise

Mumbai, 20 September 2023:

In a significant development on September 20th, Ashoka Buildcon, a prominent infrastructure company, announced a substantial boost in its stock prices following the acquisition of orders worth Rs 645.70 crore from the Maharashtra State Electricity Distribution Company.

This momentous achievement comes as Ashoka Buildcon was awarded the “notification of award” for their participation in the redevelopment of distribution infrastructure as part of the revamped distribution sector scheme, aimed at reducing losses. The awarded contracts encompass vital work in Yavatmal, Nashik Urban, Latur, and Osmanabad circles, signifying a substantial move forward for the company.

As the news broke, Ashoka Buildcon’s stock exhibited remarkable resilience, with shares witnessing a notable one percent increase in the morning trade. At 10:30 am on the NSE, the company’s stock was trading at Rs 106.10 apiece, marking a gain of Rs 0.50, equivalent to a 0.47 percent s

urge.