This BSE smallcap stock has rallied by over 9% today!
This rally came after a steep decline of over 10% yesterday. Both the decline and the bounce back are much in tune with the overall market sentiments.
Ashoka Buildcon Ltd, an Indian construction engineering company, has made it to BSE’s top gainer's list after surging by more than 9% today. The company is a part of the S&P BSE SmallCap Index, which, as of 1.42 pm, was up by 3.5%.
The company has a robust order book, which, as of December 31, 2021, stands at Rs 12,252 crore. Its order inflows since the start of FY22 stand at Rs 8526 crore. The management expects the order inflow for FY23 to exceed Rs 10,000 crore.
Moreover, Ashoka Concession Limited, a subsidiary of the company, has inked an agreement for the sale of an entire stake in five of its BOT subsidiaries for aggregate consideration of Rs 1,337 crore.
Yesterday, the company received a Letter of Acceptance (LOA) from Northeast Frontier Railway Construction for electrification of railway lines of select sections in the state of Assam.
While the contract period is 900 days, the project will be executed on EPC mode. Further, the accepted offer of this project stands at Rs 692.50 crore.
Looking at the Q3FY22 performance, the company’s net revenue went up by 10.3% YoY to Rs 1440.5 crore. However, a sharp rise in the construction expenses dragged the EBITDA down by 4.3% YoY to Rs. 384.8 crore. The PAT came in at Rs 384.30 crore, which was up by 360.6% on a YoY basis.
At 1.42 pm, the share price of Ashoka Buildcon Ltd was trading at Rs 89.30, an increase of 9.10% from the previous day’s closing price of Rs 81.85 on BSE.
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