For the quarter ended September 2019, the company reported a 17.1 per cent YoY rise in net profit at Rs 73 crore. The EBITDA, too, rose 35.7 per cent YoY to Rs 162 crore.
Earlier this week, the company had said ACL had submitted its bid to the National Highways Authority of India for the said project
The contract to build 56 km highway stretch is under hybrid annuity mode for Tumkur-Shivamogga section of highway in Karnataka
Shares of Ashoka Buildcon rose as much as 8.25 per cent to Rs 137.70 apiece on BSE in the early trade on Tuesday as a news report suggested the company has raised Rs 1.50 billion from Morgan Stanley
Shares of Ashoka Buildcon rose as much as 11 per cent to Rs 133 apiece on National Stock Exchange (NSE) in intra-day trade on receipt of Letter of Acceptance (LoA) from Rail Vikas Nigam Limited (RVNL)
Total expenses reduced to Rs 5472.7 million during the quarter against Rs 5737.7 million in the same quarter of 2016-17
Ashoka Buildcon has an order book of Rs 7,000 cr and is targeting an additional order intake
The stock moved higher to its 52-week high of Rs 232, up 10% on BSE in intra-day trade
The company said it has extended its full co-operation and provided all the requisite information to the I-T authorities
Analysts say unless the firm's name in a case of financing construction projects for a former minister's family is cleared, overhang on the stock may remain
The stock locked in lower circuit of 20% at Rs 136, also its 52-week low on the BSE on back of heavy volumes.
The stock was up 3.3% at Rs 191 on the BSE as compared to 0.69% decline in the S&P BSE Sensex at 09:30 am.
These projects will be funded by the Asian Development Bank, the company said in its filing