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Ashoka Buildcon Gains on NHAI contract

  • Shares of Ashoka Buildcon are trading at Rs 200, up Rs 2.8, or 1.42% at the Bombay Stock Exchange (BSE) on Friday at 9:35 a.m.Ashoka Buildcon had submitted its bid with the National Highways Authority of India (NHAI) for design, build, finance and operation of rehabilitation and upgradation of four laning of Cuttack - Angul Section of NH-42 from Km 0.000 to Km 112.000 in  Orissa under NHDP Phase IV to be executed as BOT on DBFOT pattern.The project is on premium basis with the concession period of 23 years and NHAI cost of the project is Rs 11.24 billion.
  • NHAI has declared Ashoka (Q,N,C,F)* Buildcon as successful bidder for the aforesaid project vide Letter of Award dated Nov. 30, 2011. The scrip has touched an intra-day high of Rs 203 and low of Rs 199.95. The total volume of shares traded at the BSE is 145.In the earlier session, the shares lost 9.23%, or Rs 20.05, at Rs 197.20. Currently, the stock is trading down 35.9% from its 52-week high of Rs 312 and above 7.47% over the 52-week low of Rs 186.10.

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