Dilip Buildcon share price rallied as much as 5.35 per cent at Rs 581.55 per share on the BSE in Thursday's intraday deals
Fair trade regulator Competition Commission of India (CCI) has granted an approval to Alpha Alternatives Group for the acquisition of a 10 per cent stake in Dilip Buildcon, according to a notice. The CCI cleared the deal under the green channel route. The transaction involves the acquisition of 9.99 per cent of the equity stake in DBL by way of subscription to warrants by Alpha Alternatives Holdings Pvt Ltd (AAHPL), and its other entities, the CCI said in the notice on Friday. The commission has also approved the acquisition of 26 per cent equity shareholding and investment in certain non-convertible debentures (NCDs) in DBL's Special Purpose Vehicles (SPVs) by AAHPL along with its affiliates. The SPVs operate Hybrid Annuity Model (HAM) projects (constructed and under-construction projects) engaged in the road infrastructure sector in India. AAHPL is a multi-asset class asset management firm that raises capital and manages investments on behalf of its clients. In November, engine
Larsen & Toubro and Engineers India need to hold above the key levels for further upside.
In the past three months, the stock has declined 43 per cent on weak executions in the July-September quarter (Q2FY22).
The project entails the development of Bundelkhand Expressway (package-VI) from Bakhariya to Kudrail in Uttar Pradesh.
The project which is 45.28 km in length is to be completed in three years, the filing said.
Earlier, on October 30, the company informed the exchanges that NHAI has fixed October 24 as the appointment date for its wholly-owned subsidiary for construction of a highway under Bharatmala
On a year-to-date (YTD) basis, shares of Dilip Buildcon have slipped 8 per cent while the benchmark S&P BSE Sensex has gained over 2.50 per cent.
Earnings could get a leg-up from early completion of projects
Rising orders, leaner balance sheet, low borrowing cost to drive earnings