Ashoka Buildcon gains post receipt of arbitration award

India Infoline News Service | Mumbai | October 06, 2017 15:25 IST

Ashoka Buildcon has received arbitration award of Rs 124.30 crore for one of the project viz. Ahmednagar – Kamala Road State Highway under BOT scheme awarded by Government of India Public Works Department, the company announced through a BSE filing.

The work was awarded to the company in the year 1999 with concession period of 16 years and 9 months including construction period of 3.5 years.

Meanwhile on bourses, the stock gained 1.89% at Rs 197 per share on BSE at 1522 hours. The stock on NSE attracted a total traded quantity of 3,32,647 shares and a traded value of Rs 660.90 lakh.

The company has been maintaining a dividend payout ratio of 45.38%.

Ashoka Buildcon Limited is an India-based infrastructure development company. The Company is engaged in construction and maintenance of roads, and supporting services to land support-operation of toll roads and others. The Company operates through three segments: Construction and Contract related activities.