Ashoka Buildcon Ltd updates on cancellation of bid by NHAI

Buildcon Limited ("the Company") updates that the Company had submitted bid for the Projects of National Highways Authority of India (NHAI) and the Company was declared the Lowest Bidder for the following Projects.

1. "Request for Proposal for Development of 4 lane Economic Corridor from Kharagpur to ChandrakonaGhatal Road Crossing Section Km 0.000 to Km 41.000 of NH 116A (Package-I) in the state of West Bengal under Hybrid Annuity Mode’. ("Project 1")

2. 'Request for Proposal for Development of 4 lane Economic Corridor from Bowaichandi to GuskaraKatwa Road Section Km 89.814 to Km 133.000 of NH 116A (Package-3) in the state of West Bengal under Hybrid Annuity Mode’ ("Project 2")

Further to update that the Company received Letter of Award for Project -2 on November 25, 2024, which was disclosed to the Exchanges on November 25, 2024.

For Project -1, said Bid has been cancelled by NHAI for administrative reasons. We understand that since the Company was the only Bidder for Project - 1, the NHAI has cancelled the same for administrative reasons.

NHAI has issued fresh Re-Bid Notice for Project -1 and the Company is eligible for re-bidding.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 235.15 as compared to the previous close of Rs. 241.35. The total number of shares traded during the day was 239816 in over 4162 trades.

The stock hit an intraday high of Rs. 241.35 and intraday low of 232.55. The net turnover during the day was Rs. 56901585.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 NHAI BidCancellation