Anand Rathi has given Buy recommendation for Ashoka Buildcon with a target price of Rs. 159 in its research report issued on Feb 19, 2022

Anand Rathi’s research report on Ashoka Buildcon

The proposed deal to monetise five of its operational BOT-toll assets from its Macquarie-SBI portfolio, and the consequent exit of the partner, we believe, would not only assuage exit concerns but also free management bandwidth for better-focused core operations. Given this, the recent well-diversified single-year-best additions is an augury, and a well-set balance sheet sets the stage for an inspiring performance ahead. Any success with monetisation efforts for other assets would further bolster the balance sheet strength and growth outlook.

Outlook

On the bright prospects, we retain our Buy rating with (on earnings revision) a higher TP of Rs159.

More Info

At 15:14 hrs Ashoka Buildcon was quoting at Rs 92.15, up Rs 1.25, or 1.38 percent.

It has touched an intraday high of Rs 93.50 and an intraday low of Rs 92.05.

It was trading with volumes of 77,056 shares, compared to its thirty day average of 129,211 shares, a decrease of -40.36 percent.

In the previous trading session, the share closed down 2.57 percent or Rs 2.40 at Rs 90.90.

The share touched its 52-week high Rs 125.00 and 52-week low Rs 78.40 on 26 October, 2021 and 06 May, 2021, respectively.

Currently, it is trading 26.28 percent below its 52-week high and 17.54 percent above its 52-week low.

Market capitalisation stands at Rs 2,586.86 crore.

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