Ashoka Buildcon shares opened higher on Aug 14, trading at ₹113.65, up ₹1.05 or 0.93% from the previous close. The rise came after the company announced a Letter of Intent (LoI) from REC Power Development and Consultancy.
The LoI covers the construction of a 400/220/132 kV AIS Sakoli substation in Bhandara, Maharashtra. The project will be awarded through the Tariff Based Competitive Bidding (TBCB) route.
Construction is expected to finish in 24 months, followed by a 35‑year Operations & Maintenance period. The annual transmission charges for the project are projected at ₹126.53 crore.
In the session before, Ashoka Buildcon shares fell 2.69% to ₹113.90. The stock has seen a wide range in the past year, touching a 52‑week high of ₹214.35 on 4 Nov 2025 and a low of ₹101.00 on 30 Mar 2026.
Today the shares trade 47.47% below the 52‑week high and 11.49% above the low. The company’s market capitalisation stands at ₹3,160.94 crore.
Analyst Prabhudas Lilladher has trimmed FY27E and FY28E EPS estimates by roughly 1% and 2% respectively, and lowered the target price to ₹150. He still maintains a buy rating, noting that the stock trades below book value and offers solid valuation support.
Overall, the new project announcement has lifted investor sentiment and provided a positive outlook for Ashoka Buildcon’s future earnings.