Ashoka Buildcon, engaged in building and operating road and bridge projects, witnessed a rise in share price on Wednesday after the company announced that the 50:50 consortium with Mohan Mutha Exports, has bagged the EPC contract worth USD 38.11 million.

This order is for development of Road Network for Hulhumalec phase 2, stage 1 (project) by Housing Development Corporation (HDC), Republic of Maldives, to be completed within 18 months.

The consortium has signed the contract agreement with Housing Development Corporation, Maldives.

Shares of Ashoka Buildcon are trading at Rs 165.40, up Rs 2.85, or 1.75% at the Bombay Stock Exchange (BSE) on Wednesday at 11:39 a.m.