Ashoka Buildcon Ltd up by 13 percent | Espresso


Espresso shot of the day – Ashoka Buildcon Ltd up by 13 percent

October 08, 2021
Espresso shot of the day – Ashoka Buildcon Ltd up by 13 percent

ASHOKA BUILDCON LTD. 116.45 (+13.00 %) BSE – INE442H01029 | 8TH OCTOBER 2021

Ashoka Buildcon Ltd. is one of the leading highway developers in India. The company is an integrated EPC, BOT and HAM player. It has a portfolio of 39 PPP projects, which is the largest in number for any private player in India. Besides construction of highways and bridges, the company is also engaged in power transmission and distribution on an EPC basis. Ashoka has worked in over 21 states across the country and completed prestigious projects for Central as well as State Governments. Overseas, it is constructing road networks for the Housing Development Corporation of the Republic of Maldives. The company is one of the first Indian infrastructure companies to be certified for Integrated Management Systems, which encompasses ISO certification for Quality, Occupational Health and Safety and Environment. Ashoka Buildcon is strengthened with a strong talent pool of technical as well as support staff. Its strong financials give it the ability to bid for and execute large-scale projects.

Recent Drivers

  • On Sept 29, 2021, Ashoka Buildcon has further acquired the balance 40% stake in the equity share capital of Ashoka Bettadahalli Shivamogga Road (ABSRPL). ABSRPL is now a wholly owned subsidiary of the company post the acquisition.
  • On Sept 22, 2021, Ashoka Buildcon announced that its subsidiary, Ashoka Concessions (ACL), has entered into a share purchase agreement with Highway Concessions One (HC1) for purchasing 49% stake held by HC1 in Ashoka Highways (Durg) (AHDL / SPV) along with zero-interest shareholders loan for an aggregate consideration of Rs 5 crores.
  • On Sept 4, 2021, Ashoka Buildcon announced that the company has received a Letter of Award from Adani Road Transport Limited with regard to the project: Execution of civil and associated works on Engineering, Procurement and Construction (EPC) basis of six-laning of National Corridor NH-19 from Pangarh to Palsit from 521.12 km to 588.87 km (total design length 67.75 km) in the State of West Bengal.
  • On Aug 11, 2021, Ashoka Buildcon reported quarterly net profit of Rs 101.33 crores in June 2021, up 46.72% from Rs 69.06 crores in June 2020.
  • On Aug 11, 2021, Ashoka Buildcon reported net sales of Rs 1,011.4 crores in June 2021, up 76.7% from Rs 572.38 crores in June 2020.
  • On July 30, 2021, Ashoka Buildcon signed an agreement for a Rs 600 crores contract. Ashoka Buildcon said it won the contract for developing Mumbai's Grand Port Hospital into a 600-bed super-specialty hospital and medical college with residential quarters of Zodiac Healotronics Private Limited, an Ajeenkya DY Patil Group Company.
(Sources: Moneycontrol, Livemint, Business Standard)

Technical Force*

  • S&P BSE 500 month till date gain up by 2.08%
  • Spurt in volume by more than 8.23 times compared to previous vol. | 3 months avg. qty.: 2,05,477
  • Quantity traded: 14,07,958 | Deliverable quantity: 4,11,291 (29.21%)
  • Stock price has jumped more than 95% from one-year-low level: 59.9 (Nov 2, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 118.65 | 52-week-low: 59.9

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Some Key Ratios (Source: BSE)

Market Cap: 3,269.02 crores

PE: 7.42

OPM%: 16.52

ROE%: 14.66

Promoters holding%: 54.48

Prev. Close: 103.05

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.