India's Ashoka Buildcon jumps on winning projects worth 28 bln rupees

Ashoka Buildcon

19/11/2024 04:30

** Shares of Ashoka Buildcon  ABDL.NS  rise as much as 7%
    ** Construction co declared lowest bidder at 27.91 bln
rupees ($330.7 mln) for two projects of the National Highways
Authority of India in the eastern state of West Bengal
    ** ABDL set to snap two sessions of losses; on track to rise
for seventh straight quarter
    ** Stock has been above its 200-day SMA since July 2023,
indicating bullish sentiment
    ** ABDL rated "buy" on avg; median PT is 253 rupees, ~6%
higher than current price of 245 rupees - LSEG
    ** Stock last up 4.4%, extending YTD gains to ~72%

($1 = 84.3950 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))