Hold Ashoka Buildcon: target of Rs 100: ICICI Direct

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26 Aug, 2025 12:21

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ICICI Direct's research report on Ashoka Buildcon

Ashoka Buildcon (ABL) is primarily engaged in the construction of roads and bridges having an integrated portfolio of EPC, BOT and HAM projects. Besides roads construction, ABL also has established presence across varied infra verticals such as power transmission, railways, city gas distribution. Diversified order book, decent execution capabilities, expected pick-up in execution and focus on debt reduction and working capital are expected to outline ABL’s performance over the next few years

Outlook

We maintain our HOLD rating. While the company has indicated that it would focus on EPC/HAM, recent bid (unsuccessful) for Ganga expressway BOT implies that it is still bent towards asset heavy segment We value ABL at Rs 100/share.

More Info on Trent

At 16:00 hrs Ashoka Buildcon was quoting at Rs 96.70, up Rs 0.45, or 0.47 percent.

It has touched an intraday high of Rs 98.65 and an intraday low of Rs 95.05.

It was trading with volumes of 58,900 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed up 2.01 percent or Rs 1.90 at Rs 96.25.

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 22.64 percent below its 52-week high and 23.34 percent above its 52-week low.

Market capitalisation stands at Rs 2,714.59 crore.

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