Ashoka Buildcon gets LOI for projects worth Rs 178.66 crore

India Infoline News Service | Mumbai | October 19, 2016 16:14 IST

The company has received Letters of Intent from DVVNL for execution of work on Rural Electrification on Turnkey basis under DDUGJY Scheme a GOI Scheme on behalf of DVVNL/Government of Uttar Pradesh for Aligarh and Kanpur Zones.

Ashoka Buildcon Ltd has informed BSE that the company has received Letters of Intent (LOIs) from Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL) for execution of work on Rural Electrification on Turnkey basis under DDUGJY Scheme a GOI Scheme on behalf of DVVNL/Government of Uttar Pradesh for Aligarh and Kanpur Zones.

The aggregate accepted bid value of the Projects is Rs. 178.66 crore.

Stock Commentary:

Ashoka Buildcon Ltd is currently trading at Rs 166, up by Rs 0.25 or 0.15% from its previous closing of Rs 165.75 on the BSE.

The scrip opened at Rs 165.8 and has touched a high and low of Rs 169 and Rs 165 respectively. So far 1084251(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3101.99 crore.

The BSE group 'B' stock of face value Rs 5 has touched a 52 week high of Rs 211.9 on 23-Dec-2015 and a 52 week low of Rs 111 on 07-Apr-2016. Last one week high and low of the scrip stood at Rs 170.3 and Rs 162.1 respectively.

The promoters holding in the company stood at 56.69 % while Institutions and Non-Institutions held 31.18 % and 12.13 % respectively.

The stock is currently trading above its 200 DMA.

***Note: This is a NSE Chart

 

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