Ashoka Buildcon share price surged by more than 5% during Friday’s trading session following the announcement that the company, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), had received Letters of Intent (LOIs) from the Maharashtra Motor Vehicles Department on Thursday.

This agreement involves the design, implementation, operation, and maintenance of an Intelligent Traffic Management System in various regions.

The project, which will last for 10 years, encompasses Nagpur, Mumbai, Pune, Marathwada, and Konkan & Western Maharashtra, with an estimated total value of ₹1,387.19 crore.