Ashoka Buildcon nudges higher after good Q3 results

Ashoka Buildcon was up 1.52% to Rs 226.45 at 12:50 IST on BSE after net profit rose 21.6% to Rs 51.99 crore on 25.7% growth in net sales to Rs 658.92 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 30 January 2018.

Meanwhile, the S&P BSE Sensex was down 113.61 points or 0.32% at 35,920.12. The S&P BSE Mid-Cap index dropped 1.27%, underperforming the Sensex.

On the BSE, 12,000 shares were traded on the counter so far as against average daily volumes of 47,368 shares in the past one quarter. The stock had hit a high of Rs 230 and a low of Rs 220.05 so far during the day. The stock had hit a record high of Rs 268.50 on 29 November 2017 and a 52-week low of Rs 171.65 on 11 August 2017.

The stock had underperformed the market over the past one month till 30 January 2018, sliding 8.98% compared with the Sensex's 5.8% rise. The stock had also underperformed the market over the past one quarter, advancing 3.86% as against the Sensex's 8.32% rise. The scrip had also underperformed the market over the past one year, surging 18.49% as against the Sensex's 29.39% rise.

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

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

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