Shares of Ashoka Buildcon Ltd rose 1.5% to touch a day’s high of Rs 203.97 on 10th November. This occurred after the company announced on Saturday that it had received a Letter of Acceptance (LoA) from the North Western Railway, Ajmer. The project is valued at Rs 539.35 crore, inclusive of GST.

The project involves upgrading the existing electric traction system from 1 x 25 kV to 2 x 25 kV. This will effectively double power capacity to enable faster, more energy-efficient train operations.

The project also includes modifying overhead equipment to support train speeds of up to 160 kmph across key sections of the Ajmer Division. It will cover the design, supply, erection, testing, and commissioning of the system. This will be done across the Ajmer–Chittorgarh, Chittorgarh–Udaipur, Madar–Bangarh, and Bangarh–Palanpur routes. The project spans about 660 route kilometres and 1,200 track kilometres.

Awarded by the President of India through the Chief Electrical Engineer (Project), North Western Railway, Jaipur, the project is to be completed within 24 months of receiving the LoA.

Earlier in August, Ashoka Buildcon reported a 44.6% year-over-year rise in Q1 FY26 net profit to Rs 217.3 crore. This increase was backed by stronger margins. The company will announce its Q2 results on 14th November.

At 11:22 AM, shares of Ashoka Buildcon were trading 1.12% higher at Rs 201.15 on NSE.

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