Dilip Buildcon said it executed an EPC (engineering, procurement and construction) agreement with Airport Authority of India (AAI) for construction of a new greenfield airport at Rajkot in Gujarat.
The project cost is Rs 570.06 crore and completion period is 30 months, the company announced on Saturday, 22 February 2020.
Shares of Dilip Buildcon were down 2.06% to Rs 339.20, extending recent losses. The stock has fallen 14.91% in the past ten trading sessions.
On the technical front, the stock's RSI (relative strength index) stood at 24.599. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
On a consolidated basis, its net profit slumped 52.2% to Rs 85.47 crore on a 1.1% fall in net sales to Rs 2,564.39 crore in Q3 December 2019 over Q3 December 2018.
Dilip Buildcon is engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The firm undertakes contracts from various government and other parties and special purpose vehicles promoted by the company. It operates through construction and engineering contracts segment.
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