Ashoka Buildcon soars on receiving LoA for Power Project in the State of Bihar

30 Jan 2017

Ashoka Buildcon is currently trading at Rs. 189.35, up by 5.40 points or 2.94% from its previous closing of Rs. 183.95 on the BSE.

The scrip opened at Rs. 185.90 and has touched a high and low of Rs. 192.00 and Rs. 185.10 respectively. So far 57608 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 196.30 on 02-Feb-2016 and a 52 week low of Rs. 111.00 on 07-Apr-2016.

Last one week high and low of the scrip stood at Rs. 192.00 and Rs. 160.75 respectively. The current market cap of the company is Rs. 3540.86 crore.

The promoters holding in the company stood at 56.69%, while institutions and non-institutions held 31.73% and 11.59% respectively.

Ashoka Buildcon has received a Letter of Award (LoA) for the Project viz. Turn Key Contracts for Providing APL Service Connection with LT line Extension under State Plan (Mukhyamantri Vidhyut Sambandh Nischay Yojna) in 7 Circles under the Jurisdiction of North Bihar Power Distribution, Patna for NIT No. 88/PR/NBPDCL/2016 Motihari Circle. The accepted contract value of Project is Rs 116.72 crore.

Ashoka Buildcon is one of the largest highway developers in the country with an impressive portfolio of over 28 PPP (Public Private Partnership) projects. The company is also active in Power Transmission & Distribution sector with various power projects in Maharashtra, Chattisgarh, Tamil Nadu & Bihar.

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