Shares of Ashoka Buildcon traded 3% above during early trading hours on 20 September after the company announced securing Rs 646 crore orders from Maharashtra State Electricity Distribution Company.

The company said in its regulatory filing, “We have received the ‘notification of award’ for the development of distribution infrastructure under the revamped distribution sector scheme for loss reduction works. The order-win is for the works to be carried out in Yavatmal, Nashik Urban, Latur and Osmanabad circles.”

The company is in the business of infrastructure construction and development and specialises in constructing and upgrading roads, bridges, highways, and other vital infrastructure projects in India.

In its quarterly report for the April-June quarter, the company reported a 2.98% YoY increase in its revenue from operations at Rs 1,935 crore; however, the company reported a 46.66 % YoY decrease in net profit at Rs 72 crore for the same period.

At 3:30 pm, the shares of Ashoka Buildcon closed at Rs 105.90 or 0.28% above its previous close on NSE.