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Ashoka Buildcon Limited ( (IN:ASHOKA) ) has provided an announcement.
Ashoka Buildcon Limited, through its subsidiary Viva Highways Limited, has acquired 7,46,20,000 equity shares in Jaora-Nayagaon Toll Road Company Private Limited (JTCL) for Rs.1,66,59,93,151, increasing its shareholding to 61.17%. This strategic acquisition aims to consolidate Ashoka Buildcon’s position in the road infrastructure sector, enhancing operational efficiency and decision-making capabilities, ultimately benefiting stakeholders, including the Madhya Pradesh Road Development Corporation and lenders.
More about Ashoka Buildcon Limited
Ashoka Buildcon Limited is a leading infrastructure development company in India, primarily focused on the road and power sectors. It boasts one of the largest road developer portfolios in the country, emphasizing its significant market presence in the road infrastructure industry.
Average Trading Volume: 77,896
Technical Sentiment Signal: Hold
Current Market Cap: 52.68B INR
For a thorough assessment of ASHOKA stock, go to TipRanks’ Stock Analysis page.