Dilip Buildcon gained 4.87% to Rs 433.70 at 12:00 IST on BSE after the company announced that the Airport Authority of India has declared the company as lowest-1 bidder for a project at Dabolim Airport, Goa.
The company made the announcement during market hours today, 24 April 2017.Meanwhile, the S&P BSE Sensex was up 158.34 points, or 0.54% to 29,529.83. The S&P BSE Mid-Cap was up 68.01 points or 0.47% to 14,555.93.
More than usual volumes were witnessed on the counter. On the BSE, 92,223 shares were traded in the counter so far, compared with average daily volumes of 46,898 shares in the past one quarter. The stock had hit a high of Rs 441.55 in intraday trade, which is also a record high for the counter. The stock had hit a low of Rs 428 so far during the day. The stock had hit a record low of Rs 178.60 on 9 November 2016.
The stock had outperformed the market over the past one month till 21 April 2017, gaining 15.37% compared with 0.41% drop in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 75.08% as against Sensex's 8.62% rise.
The mid-cap company has equity capital of Rs 136.77 crore. Face value per share is Rs 10.
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Dilip Buildcon announced that the Airport Authority of India has declared the company as lowest-1 (L-1) bidder for the construction of parallel taxi Track and associated civil & electrical works at Dabolim Airport, Goa.
The bid price put by the company for the project was Rs 125.01 crore. The construction period of the project is 24 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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