India's Ashoka Buildcon extends record rally on sale of land

Dilip Buildcon

06/09/2024 05:32

** Shares of Ashoka Buildcon  ABDL.NS  jump 3.2% to hit a
record high for second straight session
    ** The highways developer said land under its real estate
portfolio has been sold for 4.53 bln rupees (about $54 mln)
    ** Over 6 mln shares traded in 30 mins of open, 3.5x the
30-day avg
    ** Stock's all-time high of 275.91 rupees is nearly 12%
above analysts' median price target of 247 rupees -LSEG data
    ** Stock has nearly doubled YTD, more than HG Infra's
 HGIN.NS  80% jump and Dilip Buildcon's  DIBL.NS  43% gain
 
 ($1 = 83.9470 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))