I do not see what this has to do with the ASP.NET paradigm.
I think you may be mixing ideas here. I'm not sure what you're trying to achieve.
Example:
ASP.NET MVC or WebForms
(a) a page request is received
(b) ASP.NET application displays that page and goes back to sleep
(c) GET or POST comes back from page displayed by (b)
(d) ASP.NET application responds appropriately and goes back to sleep.
et cetera
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serial port processing
(i) local application starts and negotiates connectivity with serial port.
(ii) local application runs constantly, no sleeping, and continuously listens to serial port.
----------------------------------------
Here is what you should read to meet your serial port listening needs:
http://msdn.microsoft.com/en-us/library/system.io.ports.serialport.aspx
also: http://lmgtfy.com/?q=c%23+baud+port+even+stop+handshake+site%3Amsdn.microsoft.com
suthakar:i have got Data_received event occurs in windows application... can u guide me for asp.net application.
All you can do AFAIK is to store your data in your ASP.NET MVC Model until a user requests it by clicking a submit button.
Alternatively, your web page on your end user's computer could continuously request updates using Ajax.
Ajax example tutorial: #39 | Iteration #7 – Add Ajax functionality View in VB or C#
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