Ashoka Buildcon gains after unit receives first tranche of PE funding

The announcement was made during trading hours today, 7 January 2012.

Meanwhile, the BSE Sensex was down 40.78 points, or 0.21%, to 19,743.30.

On BSE, 452 shares were traded in the counter as against an average daily volume of 10,570 shares in the past one quarter.

The stock hit a high of Rs 219.65 and a low of Rs 215 so far during the day. The stock had hit a 52-week high of Rs 279.40 on 13 August 2012. The stock had hit a record low of Rs 180 on 10 January 2012.

The stock had outperformed the market over the past one month till 4 January 2013, rising 6.45% compared with the Sensex's 2.25% rise. The scrip had. however, underperformed the market in past one quarter, falling 12.02% as against Sensex's 3.81% rise.

The small-cap company has an equity capital of Rs 52.65 crore. Face value per share is Rs 10.

Ashoka Buildcon said Ashoka Concessions will utilise the fund as equity in its various projects under construction.

Private equity (PE) funds, Macquarie SBI Infrastructure Fund and SBI Macquarie Infrastructure Trust are investing $150 million in Ashoka Concessions.

Ashoka Buildcon's consolidated net profit jumped 42% to Rs 23.99 crore on 6.2% growth in net sales to Rs 304.43 crore in Q2 September 2012 over Q2 September 2011.

Ashoka Buildcon is a leading highway concessionaire and EPC company.

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