Dilip Buildcon gains after winning road project

Dilip Buildcon rose 2.48% to Rs 357 at 9:52 IST on BSE after the company said it signed a pact with Shrem Infraventure for execution of Tuljapur-Ausa road project.

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 97.98 points, or 0.34% to 29,265.66.

On the BSE, 18.45 lakh shares were traded in the counter so far, compared with average daily volumes of 36,155 shares in the past one quarter. The stock had hit a high of Rs 363 and a low of Rs 354 so far during the day.

The stock hit a record high of Rs 365.15 on 21 March 2017. The stock hit a 52-week low of Rs 178.60 on 9 November 2016.

The stock had outperformed the market over the past one month till 22 March 2017, rising 21.52% compared with 1.41% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 58.52% as against Sensex's 12.27% rise.

The mid-cap company has equity capital of Rs 136.77 crore. Face value per share is Rs 10

Dilip Buildcon received a letter of award by National Highways Authority of lndia (NHAI) for four-laning Tuljapur - Ausa (including Tuliapur Bypass) road project under NHDP Phase IV on Hybrid Annuity Mode in Maharashtra.

Dilip Buildcon has signed an Memorandum of Understanding (MoU) with Shrem Infraventure to set up a special purpose vehicle (SPV) for execution of the road project. Shrem Infraventure to hold 49% stake in the SPV and Dilip Buildcon to hold the remaining 51% stake. Shrem will acquire the remaining 51% on completion of two years of commercial operation from the date of commencement.

Dilip Buildcon's net profit jumped 151.7% to Rs 108.64 crore on 41.9% rise in net sales to Rs 1388.43 crore in Q3 December 2016 over Q3 December 2015.

Dilip Buildcon is a road-focused engineering procurement construction (EPC) contractor. The company develops infrastructure across the country in diverse areas such as roads & bridges, water sanitation & sewage, irrigation, industrial, commercial & residential buildings.

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