India's Ashoka Buildcon rises over 3% on order win

Ashoka Buildcon

08/03/2023 05:09

** Shares of Ashoka Buildcon  ABDL.NS  rise as much as 3.27%
to 80.45 rupees, highest in over three weeks since Feb. 14
    ** Infrastructure firm receives order from North Bihar Power
Distribution Company for a project worth 3.67 bln rupees
 urn:newsml:reuters.com:*:nFWN35E4QU
    ** However, co says Ministry of Road Transport and Highways
ordered it to be debarred for 45 days on March 2; adds that it
is assessing the impact of the order  urn:newsml:reuters.com:*:nFWN35F29A
    ** About 785,900 shares change hands as of 10:22 a.m. IST,
0.8x the 30-day avg - Refinitiv data
    ** Average rating of 13 analysts close to equivalent of
'strong buy' with median PT of 131 rupees - Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))