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Ashoka Buildcon Bags Rs 1,600 Crore Road Project; Shares Rise
Ashoka Builcon scores Rs 1,600 crore road project from NHAI.
23 Sep 2016, 12:24 PM IST 
A tire repair shop stands by the GT Road Highway in Shambhu, on the Haryana-Punjab border, India (Photographer: Sanjit Das/Bloomberg)
Shares of Ashoka Buildcon Ltd. rose as much as 3 percent to Rs 178 after the company said it has signed a concession agreement for a road project in Punjab worth Rs 1,600 crore.
Ashoka Kharar Ludhiana Road Ltd., a subsidiary of Builcon, entered into a pact with the National Highway Authority of India on September 22. The agreement includes four to six laning of a strech of the Kharar to Ludhiana highway in Punjab, according to the company’s exchange filing on the Bombay Stock Exchange.
At 12:22 pm, the shares of the road maker were trading 0.4 percent higher at Rs 174 apiece. The stock has gained well over 12 percent in the last three weeks.