Ashoka Buildcon jumps after its JV emerges as lowest bidder for Jodhpur Project
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Ashoka Buildcon is currently trading at Rs. 74.60, up by 1.95 points or 2.68% from its previous closing of Rs. 72.65 on the BSE.
The scrip opened at Rs. 75.00 and has touched a high and low of Rs. 75.60 and Rs. 73.75 respectively. So far 25123 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 125.00 on 26-Oct-2021 and a 52 week low of Rs. 69.00 on 25-May-2022.
Last one week high and low of the scrip stood at Rs. 75.60 and Rs. 71.50 respectively. The current market cap of the company is Rs. 2091.39 crore.
The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 23.60% and 21.92% respectively.
Ashoka Buildcon’s joint venture (JV) has been emerged as the lowest bidder for construction and maintenance of Rajiv Gandhi Fintech Digital Institute in Jodhpur.
The Company had submitted its bid in Joint Venture (the Company is a Lead Member) with Cube Construction Engineering to Department of Information Technology & Communication, Govt. of Rajasthan (Authority) for the Project viz. 'Request for Proposal for Selection of Agency for Construction and Maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur' (Project).
The Joint Venture emerged as 'the Lowest Bidder' at the Financial Bid opening meeting held on July 1, 2022. The awarded Bid Project Cost for the Project is Rs 611 crore. The share of the Company in JV is 65%. The Construction period is 18 months from commencement date.
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis.
