Dilip Buildcon drops on profit booking in weak market

Dilip Buildcon lost 2.92% to Rs 958.10 at 15:18 IST on BSE as profit booking emerged after recent upmove even as the company was declared as the lowest bidder for an EPC project in Uttar Pradesh by NHAI.

The announcement was made during trading hours today, 16 February 2018.

Meanwhile, the S&P BSE Sensex was down 273.60 points, or 0.8% to 34,023.87.

On the BSE, 37,000 shares were traded in the counter so far, compared with average daily volumes of 64,434 shares in the past one quarter. The stock had hit a high of Rs 993.80 and a low of Rs 951.10 so far during the day. The stock hit a record high of Rs 1,059 on 27 December 2017. The stock hit a 52-week low of Rs 254 on 9 March 2017.

The stock had outperformed the market over the past 30 days till 15 February 2018, rising 2.77% compared with 2.24% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.98% as against Sensex's 2.86% rise. The scrip also outperformed the market in past one year, surging 277.11% as against Sensex's 21.19% rise.

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

Shares of Dilip Buildcon had gained 21.53% in the preceding six trading sessions to settle at Rs 986.90 yesterday, 15 February 2018, from its close of Rs 812.05 on 6 February 2018.

Dilip Buildcon said that the company has been declared the lowest (L-1) bidder by the National Highways Authority of India (NHAI) for a new engineering procurement construction (EPC) project valued at Rs 670.50 crore for Varanasi - Dagamagpur (Pkg-1) in Uttar Pradesh. The project completion period is 30 months.

Net profit of Dilip Buildcon rose 51.6% to Rs 164.70 crore on 39.95% rise in total income to Rs 1947.77 crore in Q3 December 2017 over Q3 December 2016.

Dilip Buildcon is a road-focused engineering procurement construction (EPC) contractor.

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