Ashoka Buildcon shoots up on account of stake buy by HDFC MF
DSIJ Intelligence / 31 Aug 2017
As per a media report, HDFC Mutual Fund - HDFC Growth Fund bought 13,32,000 shares of Ashoka Buildcon
As per a media report, HDFC Mutual Fund - HDFC Growth Fund bought 13,32,000 shares of Ashoka Buildcon at Rs 188 per share on the NSE and HDFC Mutual Fund - HDFC Prudence Fund bought 11,00,000 shares at Rs 188 per share on Wednesday. Ashoka Buildcon is an infrastructure development company, engaged in the construction and maintenance of roads and supporting services.
However, Tiger Management Corporation A/C Tiger sold 13,33,000 shares at Rs 188 per share and Tiger Management Corp sold 13,32,727 shares at Rs 188 per share. On the bourses the stock gained 2.13% at Rs 194.50 per share. On the NSE the stock attracted a total traded volume of 1,33,958 shares and a traded value of Rs 262.17 lakhs.
The company has been maintaining dividend payout of 31.16% and a return of equity of 4.87% for the last three years. On a yearly basis the stock has yielded 22.18% returns and has underperformed the BSE Small-Cap index.