Ashoka Buildcon shines on emerging as lowest bidder for project under RGGVY

Ashoka Buildcon is currently trading at Rs. 135.50, up by 3.05 points or 2.30% from its previous closing of Rs. 132.45 on the BSE. The scrip opened at Rs. 150.00 and has touched a high and low of Rs. 150.00 and Rs. 133.00 respectively. So far 27,000 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 153.40 on 26-May-2014 and a 52 week low of Rs. 41.30 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 153.40 and Rs. 123.65 respectively. The current market cap of the company is Rs. 2,140.00 crore. The promoters holding in the company stood at 67.59%, while Institutions and Non-Institutions held 17.93% and 14.48% respectively. Ashoka Buildcon has emerged as the lowest bidder at the bid opening meeting held on May 29, 2014, at the office of South Bihar Power Distribution Company, at Patna for the project in the state of Bihar. The cost of the project is Rs 291.87 crore. The project is for Composite Tender for Rural Electrification works under Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) in XIIth Plan and strengthening of Distribution Network under Special Plan (BRGF) for Munger District. Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.