Ashoka Buildcon Ltd updates on withdrawal of LOA by NHAI

Ashoka Buildcon Limited has announced that the Project viz. 'Request for proposal for Construction of Four Lane Elevated Corridor and at-grade improvements from Design Ch:0+000 to Design Ch: 19+870 of Danapur - Bihta Section with providing connectivity to the existing RoB near Danapur station (0.231 km), 1.35 Km ramps & at-grade improvements to Four lane section on Danapur side and Upgradation of existing Two lane carriageway to Four Lane carriageway from Design Ch:19+870 to Design Ch:23+500 of Bihta - Koilwar section (Total Length 25.081 Kms) in the state of Bihar on EPC Mode ("Project")', NHAI vide its letter dated May 01, 2023, has withdrawn the LoA since the Company was debarred by NHAI and hence Contract could not be signed.

As per the provisions of RFP, the Authority has annulled the bidding process and has invited a fresh bid for the said project. We would like to additionally state that the said debarment expired on 15th April 2023 and the Company is eligible to participate in all the bids being called by various authorities including NHAI.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 87.89 as compared to the previous close of Rs. 84.97. The total number of shares traded during the day was 429978 in over 3389 trades.

The stock hit an intraday high of Rs. 90.90 and intraday low of 84.97. The net turnover during the day was Rs. 38046798.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 NHAI LOAWithdrawn Debarred