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24-May2018

Ashoka Buildcon shines with arm receiving arbitral award of Rs 383.80 crore

Ashoka Buildcon is currently trading at Rs. 256.00, up by 6.95 points or 2.79% from its previous closing of Rs. 249.05 on the BSE.

The scrip opened at Rs. 255.00 and has touched a high and low of Rs. 259.00 and Rs. 252.55 respectively. So far 32176 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 294.95 on 30-Apr-2018 and a 52 week low of Rs. 171.65 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 266.50 and Rs. 240.00 respectively. The current market cap of the company is Rs. 4800.37 crore.

The promoters holding in the company stood at 53.99%, while Institutions and Non-Institutions held 35.85% and 10.16% respectively.

Ashoka Buildcon's Wholly Owned Subsidiary - Ashoka Infrastructure (SPV), which had executed Pune Shirur Road Project in the State of Maharashtra, has received an Arbitral Award of Rs 383.80 crore, against various claims filed by the SPV.

The Project had been awarded by Government of Maharashtra, Executive Engineer, Public Works Department, Division Pune, viz. Four Lanning and strengthening of Pune Ahmednagar Road SH 60 in km 10/600 to 64/00. The toll collection at the said Project had been stopped since August 08, 2014.

Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.


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