Ashoka Buildcon's shares surged over 3% on August 26 after securing a Rs 478 crore project from the Mumbai Metropolitan Region Development Authority (MMRDA).
The project involves the design and construction of an elevated road from Kalyan-Murbad Road to Pune link road, crossing over the Karjat-Kasara railway line. The project, expected to be completed within 36 months, further boosts the company's portfolio. In the June 2024 quarter, Ashoka Buildcon reported a 148% jump in net profit to Rs 40.78 crore. Despite a recent downgrade by ICICI Securities, the stock remains resilient.