Ashoka Buildcon Shares Surge 15%, ₹602-Crore RVNL Order Fuels Biggest Rise In Six Years
Mumbai: Shares of Ashoka Buildcon surged nearly 15 percent on Monday, August 31, after the infrastructure company secured a Rs 602.16-crore order from Rail Vikas Nigam Limited (RVNL). The rally marked the stock’s biggest single-day gain in more than six years. Ashoka Buildcon shares had previously climbed 18.2 percent on April 9, 2020. RVNL order details Ashoka Buildcon said it received the…
Ashoka Buildcon's shares surged nearly 15% on Monday after securing a Rs 602.16-crore order from Rail Vikas Nigam Limited (RVNL). The infrastructure company's stock marked its biggest single-day gain in over six years, with the contract awarded through percentage-rate bidding. The project involves supplying, erecting, testing, and commissioning electro-mechanical systems for tunnels under the Rishikesh-Karnaprayag New Broad Gauge Rail Line Project in Uttarakhand.
The order also includes the installation of substations, cables, generator sets, and firefighting systems, with a completion deadline of 30 months. Despite the rally, Ashoka Buildcon shares remain 25% lower for the year, reflecting its strong order pipeline in railway electrification and transmission infrastructure projects.
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