This Article is From May 23, 2014

Ashoka Buildcon Shares Hit Record High

Ashoka Buildcon Shares Hit Record High

Shares in Ashoka Buildcon Ltd surged as much as 14.7 per cent to a record high of Rs 152 after US-based global investment management firm GMO bought 1.5 million shares in the company on Thursday in a transaction estimated at about Rs 18.3 crore ($3.13 million).

GMO Emerging Domestic Opportunities Fund bought the shares at an average price of Rs 122 per share in a block deal, data from the NSE showed.

On Monday, GMO bought about half a million shares in J Kumar Infraprojects, another midcap infrastructure company.

As of 11:04 a.m., shares in Ashoka Buildcon were trading at Rs 146.00 apiece on the BSE, up 10.86 per cent from the previous close.

Copyright @ Thomson Reuters 2014