Ashoka Buildcon climbs 8% on investment by Morgan Stanley's infra arm

Shares of Ashoka Buildcon rose as much as 8.25 per cent to Rs 137.70 apiece on BSE in the early trade on Tuesday as a news report suggested the company has raised Rs 1.50 billion from Morgan Stanley

Shares of Ashoka Buildcon rose as much as 8.25 per cent to Rs 137.70 apiece on BSE in the early trade on Tuesday after the company informed bourses it has raised Rs 1.50 billion from Morgan Stanley India Infrastructure for its gas distribution business.

Ashoka Buildcon has announced Rs 1.50 billion investment commitment into its city gas distribution (CGD) business Unison Enviro by Morgan Stanley India Infrastructure. UEPL builds and operates CGD networks across cities and towns in India, as per company release.

Ashoka Buildcon is one of India's leading infrastructure developers with a portfolio that includes 11 toll road projects