Buy Ashoka Buildcon, target price Rs 170: JM Financial

Ashoka Buildcon Ltd. key Products/Revenue Segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.

By ETMarkets.com | Nov 20, 2023, 10.25 AM IST

Promoters held 54.48 per cent stake in the company as of 30-Sep-2023, while FIIs owned 2.97 per cent, DIIs 19.96 per cent.

JM Financial has buy call on Ashoka Buildcon with a target price of Rs 170. The current market price of Ashoka Buildcon Ltd. is Rs 142.3.
Ashoka Buildcon Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 3986.27 Crore) operating in Infrastructure sector.

Ashoka Buildcon Ltd. key Products/Revenue Segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 2195.33 Crore, up 11.26 % from last quarter Total Income of Rs 1973.14 Crore and up 19.00 % from last year same quarter Total Income of Rs 1844.83 Crore. Company reported net profit after tax of Rs 118.73 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 54.48 per cent stake in the company as of 30-Sep-2023, while FIIs owned 2.97 per cent, DIIs 19.96 per cent.

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