Ashoka Buildcon scales new all-time high
Shares of Ashoka Buildcon climbed as much as 9.73 per cent in early trade and scaled new all-time high of Rs 231.55 in Friday’s trade after the company said it has secured contract for combined land parcels from Mumbai Airport.
However, the scrip wiped off its initial gains and was trading 0.24 per cent higher at Rs 211.50 around 11.20 am (IST).
Shares of the company opened at Rs 209 and touched an intraday high and low of Rs 231.55 and Rs 209, respectively, in trade.
On BSE, 1.38 lakh shares were traded on the counter so far as against the average the daily volumes of 38.21 lakh shares in the past two weeks.
Ashoka Buildcon said it has received letter of award (LoA) from Mumbai International Airport (MIAL) and the LoA has been accepted by the company. It will be developing the land parcels located at Sahar (GVK SKY City Project) located near existing Chhatrapati Shivaji International Airport, Mumbai for development of commercial space of potential built up area of 1.08 lakh square meters for an aggregate lease period of 49 years.
The company will make payment of refundable security deposit amounting to Rs 329.35 crore and annual lease rental of Rs 15.24 crore to MIAL with an escalation of 15 per cent every 3 years.
However, the scrip wiped off its initial gains and was trading 0.24 per cent higher at Rs 211.50 around 11.20 am (IST).
Shares of the company opened at Rs 209 and touched an intraday high and low of Rs 231.55 and Rs 209, respectively, in trade.
On BSE, 1.38 lakh shares were traded on the counter so far as against the average the daily volumes of 38.21 lakh shares in the past two weeks.
Ashoka Buildcon said it has received letter of award (LoA) from Mumbai International Airport (MIAL) and the LoA has been accepted by the company. It will be developing the land parcels located at Sahar (GVK SKY City Project) located near existing Chhatrapati Shivaji International Airport, Mumbai for development of commercial space of potential built up area of 1.08 lakh square meters for an aggregate lease period of 49 years.
The company will make payment of refundable security deposit amounting to Rs 329.35 crore and annual lease rental of Rs 15.24 crore to MIAL with an escalation of 15 per cent every 3 years.
