Ashoka Buildcon rises 3% on fund raising plans

India Infoline News Service | Mumbai | May 25, 2017 11:54 IST

Ashoka Buildcon, an infrastructure company soared nearly 3% on the NSE as the company announced fund raising plan.

Ashoka Buildcon, an infrastructure company soared nearly 3% on the NSE as the company announced fund raising plan.
The company in its regulatory filling mentioned that in the board will discuss the proposal for fund raising by way of debt issue, qualified institutional placement, preferential allotment or any other method.
The company also added that the board will also consider/recommend final dividend, if any, on the equity share of the company.
The stock has delivered 43% returns in a period of one year and has outperformed the BS Small cap and Nifty Infrastructure indices over the same time period. The share touched its 52-week high Rs 231.55 and 52-week low Rs 132.50 on 07 April 2017 and 07 June, 2016, respectively.

Stock view:
Ashoka Buildcon Ltd is currently trading at Rs 199.6, up by Rs 3.3 or 1.68% from its previous closing of Rs 196.3 on the BSE.
The scrip opened at Rs 195.1 and has touched a high and low of Rs 201.65 and Rs 195.1 respectively. So far 95400(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3673.73 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 219 and Rs 193.5 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 below its 50 DMA.

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.



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