Dilip Buildcon rose 2.47% to Rs 349.95 at 11:49 IST on BSE after the company secured three road construction projects valued at Rs 3269 crore from National Highways Authority of India.
The announcement was made before market hours today, 30 March 2017.Meanwhile, the S&P Sensex was up 84.06 points, or 0.28% at 29,615.49. The S&P BSE Mid-Cap index was up 70.33 points, or 0.5% at 14,000.93.
On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 37,187 shares in the past one quarter. The stock had hit a high of Rs 351.35 and a low of Rs 346 so far during the day.
The stock had hit a record high of Rs 365.15 on 21 March 2017 and a record low of Rs 178.60 on 9 November 2016. The stock had outperformed the market over the past one month till 29 March 2017, advancing 11.6% compared with the Sensex's 2.74% rise. The scrip had also outperformed the market over the past one quarter advancing 52.8% as against the Sensex's 12.01% rise.
The mid-cap company has equity capital of Rs 136.77 crore. Face value per share is Rs 10.
Dilip Buildcon received letter of award from the National Highways Authority of India (NHAI) for three projects in a single stretch in Maharashtra. First project is for four laning of Mahagaon to Yavatmal section under NHDP Phase IV on Hybrid Annuity mode at a project cost of Rs 1160.64 crore. The second project is for four laning of Yavatmal to Wardha section under NHDP Phase IV on Hybrid Annuity Mode at a project cost of Rs 1043.28 crore. The third project is for four laning of Wardha-Butibori Section on Hybrid Annuity Mode at a project cost of Rs 1065.51 crore. The completion period for all projects is 30 months.
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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