Dilip Buildcon gained 5.03% to Rs 366.80 after the road construction major received Letter of Acceptance (LOA) for a new Hybrid Annuity Mode project in Bihar.
Dilip Buildcon before market hours today announced that it has received a Letter of Acceptance (LOA) for a new HAM project. The scope of the project is construction and upgradation of NH-131A to four lane from Narenpur to Purnea and upgradation to two lane from Km 79.970 to KM 82 with paved shoulders in Bihar.
The bid project cost for the project is Rs 1905 crore. The project is to be constructed in a Hybrid Annuity Mode (HAM) within 24 months with a operation period of 15 years. The total length on construction is 49 kilometers.
Shares of Dilip Buildcon snapped their two-day losing streak. The stock lost 5.7% in two trading sessions. The scrip is up nearly 90% from its 52-week low of Rs 193.40 hit on 25 March 2020.
Dilip Buildcon is engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis.
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