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13 May

Research Icon - Ashoka Buildcon executes concession agreement with NHAI for Karnataka project; stock up 3.5%

Further to the announcement made on February 13, 2020, regarding receipt of LoA, Ashoka Buildcon Limited informed that Ashoka Banwara Bettadahalli Road Private Limited (SPV) has executed a Concession Agreement with National Highways Authority of India (NHAI) on March 19, 2020, for the Project viz.

Four Laning of Tumkur-Shivamogga section from Km 119+790 (Design Km 121+900) to Km 166+100 (Design Km170+415), Banwara to Bettadahalli section of NH-206 in the State of Karnataka, on Hybrid Annuity Mode under Bharatmala Priyojana (Package — Ill).

Ashoka Buildcon Ltd is currently trading at Rs54.65 up by Rs1.7 or 3.21% from its previous closing of Rs52.95 on the BSE.

The scrip opened at Rs53.90 and has touched a high and low of Rs56.70 and Rs52 respectively. So far 3,54,144 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,486.43cr.

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