Ashoka Buildcon Ltd JV receives LOA from CSIDC

Ashoka Buildcon Limited ("the Company") Joint Venture had submitted bid, where the Company is a Lead member, with 51% stake, for the following Project to Chhattishgarh State Industrial Development Corporation Limited (CSIDC).

Development of Gems & Jewellery Park under Public Private Partnership (PPP) mode at Raipur, Chhattishgarh ("Project")

Further to apprise that the Company has received Letter of Acceptance for the said Project.

The amount of premium to be paid is Rs.112.40 Crore and Lease rent of 2% of Rs.112.40 Crore at escalation of 10% every 4th year.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 123.30 as compared to the previous close of Rs. 115.25. The total number of shares traded during the day was 88750 in over 1175 trades.

The stock hit an intraday high of Rs. 123.90 and intraday low of 115.50. The net turnover during the day was Rs. 10729397.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 JV CSIDC LOA