Ashoka Buildcon Ltd JV receives LOA for Brihanmumbai Municipal Corporation Project

Adani-Ashoka-Aakshaya (Joint Venture), wherein Adani Road Transport Limited (holds 51% being Lead Member), Ashoka Buildcon Limited (holds 26%) and Aakshaya Infra Projects Private Limited (holds 23%), had submitted bid for the following Project to BMC.

'Mithi River Development and Pollution Control Project (Package III) Dry Weather Flow Interception at Tidal Outfalls (including Gate Pumps), Transfer Sewer, Training of River, Service Road, Retaining Wall and Allied Works and Operation & Maintenance for 10 (Ten) Years from CST Bridge Kurla to Mahim Causeway including Vakola River on Design, Build and Operate model'. ("Project")

Further to apprise that the said Joint Venture has received Letter of Acceptance for the said Project.

The accepted Bid Price for the Project is Rs.1,815.79 Crore, excl. GST.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 164.50 as compared to the previous close of Rs. 167.65. The total number of shares traded during the day was 63031 in over 1205 trades.

The stock hit an intraday high of Rs. 168.40 and intraday low of 163.25. The net turnover during the day was Rs. 10422831.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 JV OrderWin BMC