Shares of Ashoka Buildcon hit a three-month high of Rs 91.85, rising 4% in an otherwise weak market in intraday trade on Thursday after the company won orders worth Rs 755 crore. Shares of the civil construction company were trading at their highest level since September 12, 2022.

The stock was trading 1% higher at Rs 89.15 on the BSE at 11:10 am. The S&P BSE Sensex fell 0.56% to 60,570. The stock has risen nearly 20% over the past month, compared with a 3.4% decline in the Sensex.

In a filing to the exchange, Ashoka Buildcon said it had secured a project worth Rs 754.6 crore from PoorvKshetra Vidyut Vitaran in Madhya Pradesh for the supply, installation, testing and commissioning of a new 11 KV line.

Meanwhile, the company’s total order book stands at Rs 14,901 crore as of September 30, 2022. Of the entire order book, road HAM and road EPC contributed Rs 2,689.2 crore and Rs 5,573.2 crore, respectively. Electricity T&D and others contributed Rs 2,233.1 crore, railways at Rs 1,497.5 crore, construction EPC Rs 2,866.7 crore and CGD contributed the remaining Rs 41.2 crore.

India’s infrastructure sector is increasing, with optimistic trends. The Indian government has also gradually increased infrastructure spending through budgetary and non-budgetary support. The roadmap for the infrastructure industry for the next few years seems solid. However, Ashoka Buildcon said in its FY22 annual report that much depends on the proper allocation of funds, the achievement of short-term targets and the implementation of enforcement mechanisms.

India’s infrastructure sector has enormous short- and long-term opportunities. The government’s ambitious infrastructure development programmes, such as Bharatmala Pariyojana and National Infrastructure Pipeline (NIP), provide significant growth opportunities for market players and allow others to grow in the industry.