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Business Standard
2 days ago
- Business
- Business Standard
Ashoka Buildcon share jumps 5% on securing this deal; key details here
Ashoka Buildcon share price: Ashoka Buildcon share price was buzzing in trade in an overall subdued market, with the scrip rising up to 5.39 per cent to an intraday high of ₹230.70 per share, on Friday, June 6, 2025. At 9:27 AM, Ashoka Buildcon share was trading 3.13 per cent higher at ₹225.75 per share. In comparison, BSE Sensex was trading flat with a negative bias at 81,373.16 levels. Why did Ashoka Buildcon share price rise today? Ashoka Buildcon share price rose after the company announced that it, along with its subsidiary, has bagged letter of intent (LoI) worth ₹1,387.2 crore from the Motor Vehicles Department, Maharashtra In an exchange filing, the company said, 'Ashoka Buildcon informs that the Company and Ashoka Purestudy Technologies Private Limited (APTPL), a subsidiary of the Company, had jointly submitted bids for various projects to the Motors Vehicles Department, Maharashtra. This is to inform that Company has received Letters of Intent (LOIs) for the Circles including Nagpur; Mumbai; Pune; Marathwada; and Konkan and Western Maharashtra.' According to the order details, Ashoka Buildcon and its subsidiary have been entrusted with a comprehensive, long-term project to boost traffic management infrastructure across multiple regions in Maharashtra. As part of the contract, they will be responsible for the design, implementation, integration, operation, and maintenance of an Intelligent Traffic Management System (ITMS) across various road stretches in the Nagpur Circle for a period of 10 years. In addition to these urban regions, Ashoka Buildcon will design, implement, operate, and maintain ITMS on various blackspots and vulnerable locations in the Konkan and Western Maharashtra Circle for 10 years. A parallel scope of work will be undertaken for blackspots and critical points in the Marathwada Circle, ensuring improved road safety and traffic regulation over the same 10-year period. The project implementation period is 15 months from the date of signing of the contract and Operation & maintenance period is 10 years from the Go Live date, the company highlighted. About Ashoka Buildcon Ashoka Buildcon Limited, a Fortune India 500 company, is one of the foremost highway developers in the country, known for its strong presence in the infrastructure and construction space. Since its inception in 1976, the company has grown into a diversified and integrated player, operating across EPC (Engineering, Procurement, and Construction), BOT (Build, Operate, Transfer), and HAM (Hybrid Annuity Model) segments. The company's core business spans Highways & Bridges, Power (EPC), Railway Projects, Buildings (EPC), City Gas Distribution, and Smart Infrastructure. Ashoka Buildcon is also engaged in the production and sale of Ready Mix Concrete (RMC). With a portfolio of 41 PPP projects either completed or under execution, it has established a major footprint across more than 20 Indian states, positioning itself as a key contributor to India's infrastructure growth.
Business Upturn
3 days ago
- Business
- Business Upturn
RailTel receives LOI worth Rs 274.40 crore from Motor Vehicles Department, Maharashtra
RailTel Corporation of India Ltd has received a Letter of Intent (LOI) from the Motor Vehicles Department, Maharashtra, for a significant infrastructure project. The contract involves the design, implementation, operation, and maintenance of an Intelligent Traffic Management System (ITMS) across various blackspots and vulnerable locations in the Vidarbha Circle. The project will span a period of 10 years and aims to enhance road safety and traffic efficiency in the region. This domestic order has an estimated value of ₹274.40 crore, as indicated in the Request for Proposal (RFP), with the final amount to be confirmed upon issuance of the purchase order. The work order was received on June 4, 2025, at 7:27 PM. The project is slated for execution until September 4, 2036. RailTel clarified that there are no related party transactions or promoter interests involved in this contract. In the meantime, RailTel shares opened today at ₹446.95 on Wednesday, and, at the time of writing, reached a high of ₹461.85 and a low of ₹439.50 during the session. The stock remains significantly below its 52-week high of ₹617.80 but well above its 52-week low of ₹265.50, reflecting substantial gains over the year. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
