Ashoka Buildcon erases morning gains on eve of ex-bonus

The company had recommended a bonus share for every two equity shares of Rs5 each.

Jul 12, 2018 08:07 IST India Infoline News Service

Construction engineering company Ashoka Buildcon surged 17% during intra-day trading on Thursday. However, the stock erased these gains and settled at a gain of over 2% in afternoon trade.

The advance occurred amid the Mumbai-based road developer’s shares being traded ex-bonus. The company had recommended a bonus share for every two equity shares of Rs5 each.

In the highway developers space, Ashoka Buildcon is an integrated EPC and BOT player. It has a portfolio of 36 PPP projects, which is the largest in number by any private player in India. Further, it has over 39 years of experience in the EPC segment and has executed 60 roads & bridges contracts and 57 building construction contracts. 

The company is currently trading at Rs163.15 up by Rs3.75 or 2.35% from its previous closing of Rs159.40 on the BSE.

The scrip opened at Rs172.35 and has touched a high and low of Rs186.20 and Rs162.40 respectively. So far 10,44,412 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs4,474.73cr.

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