Ashoka Buildcon drops ~10% despite commencing toll collections on toll projects

The company has also received permissions at various locations to resume construction activities and/or Road and Power Projects related work.

Apr 21, 2020 12:04 IST India Infoline News Service

Ashoka Buildcon said in the BSE filing that it has commenced toll collection on the Toll Projects of the company and its subsidiaries.

Accordingly, NHAI has instructed resumption of collection of user fee at all toll plazas on National Highways/ Expressway from yesterday by ensuring compliance with preventive measures in terms of guidelines/ instructions issued by Govt. of India to contain spread of COVID-19.

Ashoka Buildcon Ltd is currently trading at Rs61.95 down by Rs6.85 or 9.96% from its previous closing of Rs68.80 on the BSE.

The company has also received permissions at various locations to resume construction activities and/or Road and Power Projects related work. The Company has started the operations at most of the Projects by following the guidelines issued by Govt. of India to contain spread of COVID-19.

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