Abhijeet Ashoka Infrastructure Pvt Ltd hands over the Toll Project at Wainganga bridge

Ashoka Buildcon Limited's ("the Company") Associate Company viz. Abhijeet Ashoka Infrastructure Private Limited ("SPV"), implementing the Project viz. 'Construction of Bridge & its approaches across Wainganga River in Km. 491/00 of NagpurRaipur Road Section of N.H. 6 in Bhandara under B.O.T. (with Toll Rights) on behalf of Govt. of Maharashtra, Office of Executive Engineer, National Highway Division, Public Works Dept. ("the Authority").

The SPV has handed over the Project back to the Authority on September 28, 2023, after the expiry of the Concession Period successfully as per the terms of the Concession Agreement/Arbitration Awards.

The average daily toll collection was around Rs.11 Lakhs. However, the toll income was not recognized as Revenue as the matter is sub-judice.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 122.15 as compared to the previous close of Rs. 111.95. The total number of shares traded during the day was 833862 in over 6307 trades.

The stock hit an intraday high of Rs. 123.40 and intraday low of 111.95. The net turnover during the day was Rs. 99298542.00.

Source : Equity Bulls

Keywords

AshokaBuildcon INE442H01029 AbhijeetAshokaInfrastructure HandsOver Project