Ashoka Buildcon rose 1.89% to Rs 193.75 at 14:31 IST on BSE after the company said that one of its associates has completed refinancing of its debt with State Bank of India.
The announcement was made during trading hours today, 11 December 2015.
Meanwhile, the BSE Sensex was down 286.55 points, or 1.13%, to 24,965.77
On BSE, so far 10,530 shares were traded in the counter, compared with an average volume of 26,025 shares in the past one quarter.
The stock hit a high of Rs 194.45 and a low of Rs 191.20 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 124 on 17 December 2014.
The stock had outperformed the market over the past one month till 10 December 2015, rising 17.34% compared with 1.91% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 14.31% as against Sensex's 1.44% decline.
The mid-cap company has an equity capital of Rs 93.55 crore. Face value per share is Rs 5.
Ashoka Buildcon said that one of its associates viz. Jaora-Nayagaon Toll Road Company (JTCL) has completed refinancing of its debt of Rs 552 crore with State Bank of India. After refinancing, the interest cost has been reduced to 9.8% per annum (p.a.) resulting in a saving of 1.5% p.a.
Ashoka Buildcon said that JTCL executes the project viz. to carry on the business of design, construction, finance, strengthening, widening, operation and maintenance on build-operate-transfer (BOT) basis for the four laning of Jaora - Nayagaon section of state highway number 31 in Madhya Pradesh.
On a consolidated basis, Ashoka Buildcon's net profit rose 590.5% to Rs 40.12 crore on 51.3% rise in net sales to Rs 650.59 crore in Q2 September 2015 over Q2 September 2014.
Ashoka Buildcon is a leading highway concessionaire and EPC company.
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