Ashoka Buildcon arm gets appointed date for NHAI Project in Karnataka; Stock jumps 3%

25 Jan 2022 , 02:44 PM

Ashoka Buildcon Limited wholly-owned subsidiary ‘Ashoka Bettadahalli Shivamogga Road Private Limited’ has received October 20, 2021, as an Appointed Date for the National Highways Authority of India (NHAI) project in Karnataka.

The company had informed about the achievement of financial closure for the project on September 24, 2021.

The project is ‘Four laning of Tumkur Shivamogga section from Ch. 170+415 km. to Ch. 226+750 km. Bettadahalli Shivamogga of NH-206 on Hybrid Annuity Mode under Bharatmala Pariyojna in the State of Karnataka (Package-IV)’. The Construction Period is 24 months from the Appointed Date and the Operation Period is 15 years from Commercial Operations Date (CoD).

At around 2.47 pm, Ashoka Buildcon Ltd was trading at Rs96.60 per share up by Rs2.8 or 2.99% from its previous closing of Rs93.80 per share on the BSE.