Ashoka Buildcon Ltd receives provisional certificate for NHAI HAM project

Ashoka Buildcon Limited ('the Company') has announced the declaration of Sept.24, 2020 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ('NHAI') on Oct.13, 2020, for the Project viz. 4/6 laning from Ranastalam to Anandapuram (Visakhapatnam) (from Km 634.000 to Km 681.000) section of NH- 05(New NH-16) in the State of Andhra Pradesh under NHDP Phase- V(Package II) on Hybrid Annuity mode Basis('Project').

The Project is executed by Ashoka Ranastalam Anadapuram Road Ltd,(SPV) a Wholly Owned Subsidiary of Ashoka Concessions Ltd, a Subsidiary of the Co.

Consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payments from NHAI within 6 months from the date of achievement of CoD i.e.6 months from Sept. 24, 2020.

The company also announced that the said SPV has received a Provisional Completion Certificate for completion of 45.550 KMs out of total Project highway Length of 47.00 KMs.

Shares of ASHOKA BUILDCON LTD. was last trading in BSE at Rs.61.3 as compared to the previous close of Rs. 61.6. The total number of shares traded during the day was 59550 in over 601 trades.

The stock hit an intraday high of Rs. 62.3 and intraday low of 60.4. The net turnover during the day was Rs. 3673191.

Source : Equity Bulls

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