Ashoka Buildcon Limited bags an order from JBVNL

India Infoline News Service | Mumbai | May 12, 2017 11:15 IST

Ashoka Buildcon has bagged a Rs 2.8 bn project from Jharkhand Bijli Vitran Nigam for urban electrification works in Jharkhand.

Ashoka Buildcon has bagged a Rs 2.8 bn project from Jharkhand Bijli Vitran Nigam for urban electrification works in Jharkhand.
The electrification works include the execution of urban electrification works for Ranchi and Medininagar towns in the state of Jharkhand and electric supply area covering 12 towns in the state of Jharkahand under Integrated Power Development Scheme ('IPDS').
After the announcement by the company, the stock has witnessed huge volumes in the morning hours on Friday. Ashoka Buildcon Ltd. is one of the largest highway developers in the country with an impressive portfolio of over 31 PPP (Public Private Partnership) projects.
The company is present across nine states in the country executing several prestigious projects for National and State Governments. The company is also active in Power Transmission & Distribution sector with various power projects in Maharashtra, Chattisgarh, Tamil Nadu & Bihar.
Stock View:
Ashoka Buildcon Ltd is currently trading at Rs 214.2, up by Rs 2.05 or 0.97% from its previous closing of Rs 212.15 on the BSE.
The scrip opened at Rs 212.15 and has touched a high and low of Rs 215.95 and Rs 209.85 respectively. So far 95664(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3970.36 crore.
The BSE group 'B' stock of face value Rs 5 has touched a 52 week high of Rs 231.55 on 07-Apr-2017 and a 52 week low of Rs 127 on 07-Jun-2016. Last one week high and low of the scrip stood at Rs 217.4 and Rs 203 respectively.
The promoters holding in the company stood at 56.66 % while Institutions and Non-Institutions held 32.24 % and 11.09 % respectively.
The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

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