Ashoka Buildcon rose 0.73% to Rs 229 at 15:03 IST on BSE after the company's subsidiary received letter of award for three road projects in Karnataka.
The announcement was made during market hours today, 8 March 2018.Meanwhile, the S&P BSE Sensex was up 334.04 points or 1.01% at 33,367.13.
On the BSE, 8,707 shares were traded on the counter so far as against average daily volumes of 1.21 lakh shares in the past two weeks. The stock was volatile. The stock had hit a high of Rs 229.85 and a low of Rs 223.10 so far during the day. The stock had hit a 52-week high of Rs 268.50 on 29 November 2017 and a 52-week low of Rs 171.65 on 11 August 2017.
Ashoka Buildcon said that the company's subsidiary viz. Ashoka Concessions has received a letters of award (LOAs) from NHAI for three projects in Karnataka under NHDP Phase-IV on Hybrid Annuity Mode. The aggregate accepted bid cost of these projects is Rs 2991.70 crore.
Ashoka Buildcon's net profit rose 21.56% to Rs 51.99 crore on 25.75% growth in net sales to Rs 658.92 crore in Q3 December 2017 over Q3 December 2016.
Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.
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