Ashoka Buildcon stock nears record high on receipt of provisional certificate for NHAI project

The Project is executed by Ashoka Khairatunda Barwa Adda Road Limited, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions Limited, a Subsidiary of the Company.

Oct 12, 2021 02:10 IST India Infoline News Service

Ashoka Buildcon intimated exchanges that the declaration of October 09, 2021 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ("NHAI") vide letter issued by Independent Engineer on October 11, 2021 for the Project viz. Six Laning of Khairatunda to Barwa Adda Section of NH-2 from km. 360.300 to km. 400.132 in the State of Jharkhand under NHDP Phase-V on Hybrid Annuity Mode ("Project").

The Project is executed by Ashoka Khairatunda Barwa Adda Road Limited, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions Limited, a Subsidiary of the Company.

Further to inform that consequent to the declaration of CoD, the SPy is eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of CoD.

The Company also announces that the said SPV has received a Provisional Certificate for completion of 36.40 KMs out of total Project highway Length of 40.33 KMs.

At around 2.52 pm, Ashoka Buildcon stock was trading at Rs121.15 per piece up 1.5% on Sensex. The stock has touched an intraday high of Rs123 per piece which is near the 52-week high of Rs124 per piece on the same index. 

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity