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Dilip Buildcon declines after recent sharp rally

Capital Market 

Dilip Buildcon fell 4.73% to Rs 518.15 at 10:52 on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P Sensex was down 113.07 points, or 0.35% at 31,924.31. The S&P Mid-cap Index was down 32.32 points, or 0.21% at 15,121.22.

On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 62,696 shares in the past one quarter. The stock had hit a high of Rs 549 and a low of Rs 518 so far during the day. The stock had hit a record high of Rs 549.25 on 13 July 2017 and a 52-week low of Rs 178.60 on 9 November 2016.

The stock had outperformed the market over the past one month till 13 July 2017, advancing 20.91% compared with the Sensex's 3% rise. The scrip had also outperformed the market over the past one quarter gaining 46.69% as against the Sensex's 8.74% rise.

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

Shares of Dilip Buildcon had rallied 19.58% in the preceding five trading sessions to settle at Rs 543.85 yesterday, 13 July 2017, from its close of Rs 454.80 on 6 July 2017.

Dilip Buildcon's net profit jumped 222.5% to Rs 195.77 crore on 28.8% increase in net sales to Rs 1732.30 crore in Q4 March 2017 over Q4 March 2016.

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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