Ashoka Buildcon Bags Five Power Projects Worth Rs 950 Crore In Bihar  

Ashoka Buildcon Ltd.'s stock rallied on the exchanges after it received a letter of intent for five rural electrification projects across Bihar, worth Rs 949.8 crore.

The North and South Bihar Power Distribution Co Ltd. authorised the letter of intent for rural electrification work in five districts namely, Sitamahri, West Champaran, Munger, Patna and Sasram. The projects will be carried our under the Deendayal Upadhyaya Gram Jyoti Yojna, according to the exchange filing.

Ashoka Buildcon's total order book will now rise to Rs 6,450 crore, with Rs 1,303 crore coming from various power projects in Bihar. 45 percent of the the company's order book are engineering procurement and construction projects, 28 percent are build-operate- transfer projects, while the remaining 27 percent are power transmission and distribution projects.

The infrastructure company rose as much as 5.5 percent to Rs 155 after the announcement.

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