Ashoka Buildcon spurted 9.49% to Rs 144.20 at 12:50 IST on BSE after GMO Emerging Domestic Opportunities Fund purchased 1.25% equity stake in the company via bulk deal on NSE on Thursday, 22 May 2014.
Meanwhile, the BSE Sensex was up 223.33 points, or 0.92%, to 24,597.73.
On BSE, so far 27,000 shares were traded in the counter, compared with an average volume of 66,468 shares in the past one quarter.
The stock hit a high of Rs 151.40 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 134.60 so far during the day. The stock hit a record low of Rs 41.30 on 6 August 2013.
The stock had outperformed the market over the past one month till 22 May 2014, rising 32.83% compared with 7.10% rise in the Sensex. The scrip had also outperformed the market in past one quarter, soaring 124.17% as against Sensex's 17.75% rise.
The small-cap company has an equity capital of Rs 78.98 crore. Face value per share is Rs 5.
On Thursday, 22 May 2014, GMO Emerging Domestic Opportunities Fund acquired 19.67 lakh shares of Ashoka Buildcon at an average price of Rs 122 each on NSE. Simultaneously, IDFC Infrastructure Fund 2 sold 15 lakh shares of Ashoka Buildcon at an average price of Rs 122 each on NSE.
GMO Emerging Domestic Opportunities Fund purchased 4% equity stake of J Kumar Infraprojects, another infrastructure company.
On a consolidated basis, Ashoka Buildcon's net profit jumped 110.89% to Rs 13.56 crore on 6.45% decline in net total income from operations to Rs 608.25 crore in Q4 March 2014 over Q4 March 2013.
Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.
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