Ashoka Buildcons NHAI road project in Telangana achieves financial closure; stock ends flat

The bid project cost is Rs1,000cr, Ashoka Buildcons said in the filing.

Oct 26, 2020 04:10 IST India Infoline News Service

Ashoka Buildcon shares ended flat on Monday. The company said its wholly-owned subsidiary achieved financial closure of a road project in Telangana.

Ashoka Buildcon announced that Ashoka Kandi Ramsanpalle Road, a wholly-owned subsidiary of the Company is in receipt of the letter from National Highways Authority of India dated 23 October 2020 for the approval for the achievement of Financial closure as on 05 October 2020 for the Project viz. Four laning of NH-161 from Kandi (Design Km 0.000) (Km 498.250 of NH-65) to Ramsanpalle (Design Km 39.980/Existing Km 44.757) (Design Length = 39.980 Km) in the State of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode, the company said.

The bid project cost is Rs1,000cr, it added.

Ashoka Buildcon Ltd ended at Rs63.45, up by Rs0.1 or 0.16% from its previous closing of Rs63.35 on the BSE.

The scrip opened at Rs63.45 and touched a high and low of Rs64.50 and Rs63.10 respectively.

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