Ashoka Buildcon Limited has informed the Exchange about Receipt of Letter of Acceptance (LOA) from Diriyah Company, Kingdom of Saudi Arabia.
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Awaiting price reaction for this filing.
Ashoka Buildcon has received a Letter of Acceptance from Diriyah Company in Saudi Arabia, confirming it has won a new contract. Diriyah Company is linked to the large-scale Diriyah Gate development project near Riyadh. The exact contract value and scope have not been disclosed in the headline and would need to be checked in the detailed filing. This marks a new international order for the company, expanding its footprint outside India. Saudi Arabia's currency (SAR) is pegged to the US dollar, making this effectively a hard-currency export order.
Positive for the stock as it confirms a new overseas order win, supporting the company's growth in international markets. The actual share-price impact will depend on the order size, which is not stated in this announcement.