Ashoka Khairatunda Barwa Adda Road Ltd commissions road project

Ashoka Buildcon Limited (the Company / ABL) has announced the declaration of October 09, 2021 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ('NHAI') vide letter issued by Independent Engineer on October 11, 2021 for the Project viz. Six Laning of Khairatunda to Barwa Adda Section of NH-2 from km. 360.300 to km. 400.132 in the State of Jharkhand under NHDP Phase-V on Hybrid Annuity Mode ('Project').

The Project is executed by Ashoka Khairatunda Barwa Adda Road Limited, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions Limited, a Subsidiary of the Company.

Consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of CoD.

The Company also announces that the said SPV has received a Provisional Certificate for completion of 36.40 KMs out of total Project highway Length of 40.33 KMs.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 119.40 as compared to the previous close of Rs. 116.45. The total number of shares traded during the day was 1209633 in over 12761 trades.

The stock hit an intraday high of Rs. 124.00 and intraday low of 115.80. The net turnover during the day was Rs. 145000199.00.

Source : Equity Bulls

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