Ashoka Buildcon drops on profit booking

Ashoka Buildcon fell 2.66% to Rs 206.50 at 14:21 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 224.33 points, or 0.74% at 29,901.88. The S&P BSE Mid-cap index was down 147.34 points, 0.99% at 14,733.52.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 6.18 lakh shares in the past one quarter. The stock had hit a high of Rs 213.90 and a low of Rs 205 so far during the day.

The stock had hit a record high of Rs 231.55 on 7 April 2017 and a 52-week low of Rs 127 on 7 June 2016. The stock had outperformed the market over the past one month till 4 May 2017, advancing 8.93% compared with the Sensex's 0.72% rise. The scrip had also outperformed the market over the past one quarter advancing 10.01% as against the Sensex's 6.68% rise.

The mid-cap company has equity capital of Rs 93.57 crore. Face value per share is Rs 5.

Ashoka Buildcon had rallied 9.27% in the preceding two trading sessions to settle at Rs 212.15 yesterday, 4 May 2017, from its closing of Rs 194.15 on 2 May 2017.

Ashoka Buildcon's net profit spurted 114.7% to Rs 42.70 crore on 17.2% increase in net sales to Rs 517.74 crore in Q3 December 2016 over Q3 December 2015.

Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.

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