Ashoka Buildcon slips as mutual fund pares stake

Ashoka Buildcon fell 0.99% to Rs 74.70 at 11:22 IST on BSE after a mutual fund pared its holding in the company on Friday, 21 March 2014.

Meanwhile, the BSE Sensex was down 7.40 points, or 0.03%, to 21,746.35

On BSE, so far 209 shares were traded in the counter, compared with an average volume of 26,064 shares in the past one quarter.

The stock hit a high of Rs 75.95 and a low of Rs 74.60 so far during the day. The stock hit a 52-week high of Rs 83.32 on 13 May 2013. The stock hit a record low of Rs 41.30 on 6 August 2013.

The small-cap stock had outperformed the market over the past one month till 21 March 2014, rising 28.43% as compared to the Sensex's return of 5.09%. It had also outperformed the market in the past one quarter, gaining 27.23% as compared to the Sensex's 3.2% rise.

The small-cap company has an equity capital of Rs 78.98 crore. Face value per share is Rs 5.

IDFC Infrastructure Fund 2 sold 17.25 lakh shares or 1.09% stake at Rs 75.50 per share in Ashoka Buildcon in a bulk deal on NSE on Friday, 21 March 2014.

IDFC Trustee Company under IDFC Infrastructure Fund 2 A/c IDFC Private Equity Fund II owned 1.19 crore shares or 7.54% stake in Ashoka Buildcon (as per the shareholding pattern as on 31 December 2013).

Ashoka Buildcon's consolidated net profit surged 165.7% to Rs 33.56 crore on 2.6% fall in net sales to Rs 417.88 crore in Q3 December 2013 over Q3 December 2012.

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

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