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Ashoka Buildcon gains on being assigned ‘AA/-Stable’ rating for NCD programme by CRISIL

28 Oct 2014

Ashoka Buildcon is currently trading at Rs. 132.85, up by 0.45 points or 0.34 % from its previous closing of Rs. 132.40 on the BSE.

The scrip opened at Rs. 133.80 and has touched a high and low of Rs. 134.00 and Rs. 132.40 respectively. So far 485 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 158.85 on 18-Jul-2014 and a 52 week low of Rs. 42.15 on 29-Oct-2013.

Last one week high and low of the scrip stood at Rs. 138.90 and Rs. 114.00 respectively. The current market cap of the company is Rs. 2104.21 crore.

The promoters holding in the company stood at 67.53 % while Institutions and Non-Institutions held 17.15 % and 15.33 % respectively.

Credit rating agency, CRISIL has assigned ‘AA-/Stable’ rating to the non-convertible debentures (NCD) programme of Ashoka Buildcon, while the rating agency has reaffirmed its ratings on the bank facilities and debt programme of the company at ‘AA-/Stable/A1+’.

The ratings continue to reflect the Ashoka group’s established track record in executing engineering, procurement, and construction (EPC) contracts and BOT road projects, and its sound financial risk profile, marked by healthy net worth, low gearing, and comfortable debt protection metrics. These rating strengths are partially offset by the continued funding support required by the group's subsidiaries, and its working-capital-intensive operations.

Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.

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Ashoka Buildcon Share Price

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SEBI Registered: Investment Adviser - INA000013323