India's Ashoka Buildcon hits over 5-yr high after order win

Ashoka Buildcon

29/01/2024 04:55

** Shares of Ashoka Buildcon  ABDL.NS  up 4.8% at 169.65
rupes, their highest since July 2018
    ** The highways developer is lowest bidder for project, with
bid value of 5.20 billion rupees ($62.5 million)
    ** Stock up ~20% YTD, after a 55.3% rise in 2023 
    ** Analysts' avg rating on stock is 'buy', median price
target is 168.50 rupees - LSEG data
 
 ($1 = 83.1450 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))