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Ashoka Buildcon gains after winning highway project

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Capital Market
Last Updated : Sep 25 2015 | 12:01 AM IST

Ashoka Buildcon rose 2.83% to Rs 169.05 at 11:35 IST on BSE after the company received letter of award worth Rs 414 crore from Mumbai-JNPT Port Road for highway construction.

The announcement was made during trading hours today, 24 September 2015.

Meanwhile, the BSE Sensex was down 75.47 points, or 0.29%, to 25,747.52

On BSE, so far 16,641 shares were traded in the counter, compared with an average volume of 17,925 shares in the past one quarter.

The stock hit a high of Rs 172.10 and a low of Rs 163.25 so far during the day. The stock hit a record high of Rs 205.40 on 15 April 2015. The stock hit a 52-week low of Rs 110.05 on 16 October 2014.

The stock had underperformed the market over the past one month till 23 September 2015, falling 10.31% compared with Sensex's 5.64% fall. The stock had also underperformed the market in past one quarter, declining 10.26% as against Sensex's 7.13% fall.

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The mid-cap company has an equity capital of Rs 93.55 crore. Face value per share is Rs 5.

Ashoka Buildcon received letter of award (LoA) from Mumbai-JNPT Port Road, a special purpose vehicle (SPV) of National Highways Authority of India in respect of the project involving construction of highway on engineering procurement and construction (EPC) basis.

On a consolidated basis, net profit of Ashoka Buildcon declined 66.2% to Rs 12.38 crore on 0.2% rise in net sales to Rs 629.87 crore in Q1 June 2015 over Q1 June 2014.

Ashoka Buildcon is a leading highway concessionaire and EPC company.

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First Published: Sep 24 2015 | 12:05 PM IST

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