India-based infrastructure company Ashoka Buildcon, headquartered in Nashik, Maharashtra, saw its share price rise nearly 5% on April 23, 2025, after securing a major ₹568 crore railway project from Central Railway. The project involves gauge conversion work over a 53.3 km stretch.
On April 23, 2025, shares of Ashoka Buildcon Ltd, a leading infrastructure development company based in Nashik, Maharashtra, gained close to 5% during intraday trading on the Bombay Stock Exchange (BSE). The surge came after the company announced that it had secured a large-scale railway project worth ₹568.86 crore from Central Railway.
Ashoka Buildcon informed the exchanges on April 22 that it received the Letter of Acceptance for the engineering, procurement, and construction (EPC) project. The work includes earthwork, bridges, civil work, and gauge conversion across the 53.3 km stretch from Pachora to Jamner, excluding the Pachora yard and overpasses. The project is scheduled for completion within 913 days.
This order win follows the company’s earlier disclosure on April 12, 2025, when it announced its bid submission. The acceptance marks a significant step in Ashoka Buildcon’s continued involvement in critical infrastructure development across India.
In a parallel development, Ashoka Concessions Ltd, an unlisted material subsidiary of the company, had earlier signed a share purchase agreement in December 2024 with Maple Infrastructure Trust (formerly Indian Highway Concessions Trust). The agreement involves divesting five of its highway subsidiaries. However, the completion of this transaction, originally targeted for March 31, 2025, has been delayed due to pending conditions.
On the trading front, Ashoka Buildcon’s share opened at ₹205 on April 23, higher than the previous close of ₹198. It hit an intraday high of ₹207.70, reflecting a nearly 5% rise, driven by investor optimism around the new contract.
