Ashoka Buildcon’s gains as its subsidiary executes concession agreement with NHAI

Ashoka Buildcon is currently trading at Rs. 173.65, up by 0.80 points or 0.46% from its previous closing of Rs. 172.85 on the BSE.

The scrip opened at Rs. 173.00 and has touched a high and low of Rs. 178.50 and Rs. 169.95 respectively. So far 33855 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 211.90 on 23-Dec-2015 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. 174.00 and Rs. 164.80 respectively. The current market cap of the company is Rs. 3247.03 crore.

The promoters holding in the company stood at 56.69%, while Institutions and Non-Institutions held 30.04% and 13.27% respectively.

Ashoka Buildcon’s AKLR has executed a Concession Agreement with National Highways Authority of India (NHAI) on September 22, 2016, for 4/6 laning of Kharar to Ludhiana section of NH-95 (new NH-05) from Kharar km. 10+185 (design chainage) to Samrala Chowk, Ludhiana km. 86+199 (design chainage) in the state of Punjab on Hybrid Annuity mode. Ashoka Kharar Ludhiana Road (AKLR) is a wholly owned subsidiary of Ashoka Concessions, a subsidiary of the company.

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.