Ashoka Buildcon shares surge after Rs 769 cr road project order

18 Dec 2021 CW Team

Ashoka Buildcon Limited share price witnessed a price hike of 2% after receiving a letter of award (LoA) of Rs 769.41 crore road project in Goa.

The company said that it received an LoA from the Ministry of Road Transport and Highways (MoRTH) for a six-lanning link road with a paved shoulder configuration to Mopa Airport in Goa. The project is acquired in engineering, procurement and construction (EPC) mode.

The share was trading at Rs 98.05, having increased by Rs 2.15 or Rs 2.24. The intraday high was Rs 99.50, and the intraday low of Rs 96.20.

The Chief Financial Officer (CFO) of Ashoka Buildcon, Paresh Mehta, told the media that the execution of the major projects is to pick up from the fourth quarter (Q4) of FY22.

He said that the company saw the first delay in project execution in the second quarter (Q2) due to the monsoon season.

He further added that the company has an order book of nearly Rs 12,000 crore, out of which Rs 3,500 crore was in the last seven months.

Also read: Ashoka Buildcon receives highway EPC contract worth Rs 1,567.45 cr

Infrastructure Transport

20 Jun 2025

Dassault To Build Falcon Jets In India With Reliance

Reliance Infrastructure Ltd鈥檚 subsidiary, Reliance Aerostructure, has signed an agreement with France鈥檚 Dassault Aviation to manufacture Falcon 2000 business jets in India, with the first batch expected to roll out from its Nagpur facility by 2028. This marks the first time a Falcon aircraft will be entirely built outside France.The announcement sent Reliance Infrastructure shares surging, hitting the 5 per cent upper circuit on the BSE. Anil Ambani, Chairman of Reliance Group, hailed the agreement as a 鈥渟ymbol of India鈥檚 technological and manufacturing strength鈥�, adding that it aims..

Infrastructure Urban

20 Jun 2025

INDEA Lays Foundation for India鈥檚 First Auto Design School

The Indian School for Design of Automobiles (INDEA), the country鈥檚 first institute focused solely on automobile design and management, held its foundation stone ceremony at XLRI Delhi-NCR. The event was graced by Union Minister for Road Transport and Highways, Nitin Gadkari, who virtually unveiled the stone as Chief Guest.INDEA aims to become a premier talent hub, driving innovation in the Indian automotive sector. The school will focus on advanced design, mobility solutions, and sustainable practices, playing a vital role in shaping India鈥檚 transition from a cost-driven to a quality-led a..

Infrastructure Transport

20 Jun 2025

Karnataka Launches Global Innovation Hub at Airport City

The Government of Karnataka, in collaboration with Bengaluru Airport City Limited (BACL) and ANSR, has launched a global innovation hub named District I at Bengaluru Airport City's business park. The initiative aims to elevate India鈥檚 innovation ecosystem to a global scale by fostering collaboration among startups, academia, enterprises, and government bodies.District I will serve as a platform for deep-tech entrepreneurship, enterprise innovation, and commercialisation of academic research. It brings together Global Capability Centres (GCCs), IT firms, corporate labs, startups, venture capi..