Ashoka Buildcon ends higher on executing concession agreement with NHAI

Ashoka Buildcon ends higher on executing concession agreement with NHAI
Ashoka Buildcon said in the press note that Ashoka Bettadahalli Shivamogga Road Private Limited has executed a concession agreement with National Highways Authority of India (NHAI) for the project on Hybrid Annuity Mode under Bharatmala in Karnataka. The stock ended at Rs115.10, up by Rs1.5 or 1.32% from its previous closing of Rs113.60 on the BSE.

“Further to the announcement made on March 11, 2019, regarding receipt of LoA, Ashoka Buildcon Limited ('the Company') informs that Ashoka Bettadahalli Shivamogga Road Private Limited ('SPV') has executed a Concession Agreement with National Highways Authority of India ('NHAI') on January 29, 2020, for the Project viz. 'Tumkur - Shivamogga Section from Km 170.415 to Km 226.750 from Bettadahalli Shivamogga (Package IV) on Hybrid Annuity Mode under Bharatmala in the State of Karnataka'. ('Project'),” the company said in the filing.

The SPV is a wholly-owned subsidiary of Ashoka Concessions Limited. The accepted Bid Project Cost is Rs1,382cr, it added.

The scrip opened at Rs115.70 and has touched a high and low of Rs116.80 and Rs114.15 respectively.




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