Ashoka Buildcon surges as its JV inks pact with Government of Tamil Nadu

19 Sep 2013

Ashoka Buildcon is currently trading at Rs. 46.80, up by 0.65 points or 1.41% from its previous closing of Rs. 46.15 on the BSE.

The scrip opened at Rs. 46.50 and has touched a high and low of Rs. 49.35 and Rs. 45.25 respectively. So far 4984 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 83.32 on 13-May-2013 and a 52 week low of Rs. 41.30 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 54.85 and Rs. 46.15 respectively. The current market cap of the company is Rs. 754.23 crore.

The promoters holding in the company stood at 67.52% while Institutions and Non-Institutions held 18.46% and 14.02% respectively. GVR-Ashoka Chennai, a joint venture (JV) of Ashoka Buildcon and GVR Infra Projects has executed a Concession Agreement with Government of Tamil Nadu, Highways and Minor Ports Department on September 18, 2013. The agreement is executed for the Project viz. ‘Development of Chennai Outer Ring Road Phase ll from Nemilicheri in NH 205 To Minjur in Thiruvottiyur -Ponneri - Panchetti (TPP) Road on Design, Build, Finance, Operate and Transfer (DBFOT) Annuity basis at Chennai, in the State of Tamil Nadu (‘Project’).

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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