Ashoka Buildcon surges on receiving LoI from JBVNL

18 Mar 2019

Ashoka Buildcon is currently trading at Rs. 138.50, up by 1.70 points or 1.24% from its previous closing of Rs. 136.80 on the BSE.

The scrip opened at Rs. 139.30 and has touched a high and low of Rs. 139.50 and Rs. 136.00 respectively. So far 9355 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 196.63 on 30-Apr-2018 and a 52 week low of Rs. 93.15 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 149.80 and Rs. 134.15 respectively. The current market cap of the company is Rs. 3882.40 crore.

The promoters holding in the company stood at 54.26%, while Institutions and Non-Institutions held 35.72% and 10.02% respectively.

Ashoka Buildcon has received Letter of Intent (LoI) from Jharkhand Bijli Vitran Nigam (JBVNL) for the Project viz. Rural Electrification Works of Package-4 (Comprising Ranchi, Khunti, Gumla, Simdega & Lohardaga District) in Jharkhand State under Jharkhand Sampurna Bijli Achchhadan Yojana (JSBAY) Phase-II. The accepted bid value for the project is Rs 169.22 crore.

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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