Ashoka Buildcon Ltd. announced on Thursday that its wholly-owned subsidiary, Viva Highways Ltd., has successfully monetised its land in Hinjewadi in Pune. This will bring VHL's real estate portfolio to a total consideration of Rs 453 crore, according to the exchange filing.
In related updates, Ashoka Buildcon's credit rating for its unlisted material subsidiary, Ashoka Concessions Ltd., was withdrawn by ICRA Ltd. on Aug. 31. The rating was withdrawn because ACL has no outstanding debt or banking credit facilities.
Additionally, Ashoka Buildcon’s Commercial Papers, with a total issue size of Rs 50 crore, have been listed on BSE as of Sept. 2. The issuance, approved by the board on May 22, has a maturity date of Nov. 26 and an interest rate of 8.35%.
Shares of the company closed 12.99% higher at Rs 267.43 per share, compared to a 0.21% decline in the NSE Nifty 50. The stock has risen 137.72% year-to-date and 92.05% over the past 12 months.
RECOMMENDED FOR YOU
Ashoka Buildcon Q2 Results Review - Traction In H2: IDBI Capital
Nov 14, 2024
Zydus Life, Nykaa, PNC Infra, Ashoka Buildcon, Samvardhana Motherson, Q2 Results Today—Earnings Estimates
Nov 12, 2024
Ashoka Buildcon Share Price Hits One-Month High On Orders From Maharashtra
Oct 14, 2024
Ashoka Buildcon Wins Two Projects Worth Total Rs 2,591 Crore In Maharashtra
Oct 11, 2024
POPULAR