Dilip Buildcon firms up after winning two EPC projects in Maharashtra

Dilip Buildcon rose 1.28% to Rs 360.20 at 9:42 IST on BSE after the company said its won two EPC projects in Maharashtra worth Rs 580.50 crore.

The announcement was made before trading hours today, 10 April 2017.

Meanwhile, the S&P BSE Sensex was down 27.93 points, or 0.09% to 29,678.68.

On the BSE, 5,132 shares were traded in the counter so far, compared with average daily volumes of 39,896 shares in the past one quarter. The stock had hit a high of Rs 362.35 and a low of Rs 358 so far during the day.

The stock hit a record high of Rs 373.80 on 5 April 2017. The stock hit a record low of Rs 178.60 on 9 November 2016.

The stock had outperformed the market over the past one month till 7 April 2017, rising 11.63% compared with 2.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 55.31% as against Sensex's 11.01% rise.

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

Dilip Buildcon has received Letter of Award (LoA) from the Ministry of Road Transport & Highways (MORTH), Government of India for two EPC (engineering, procurement and construction) road projects worth Rs 580.50 crore in Maharashtra.

The first project is for rehabilitation and up-gradation of two lane with paved shoulders on; EPC mode from Kalamb to Wadki (Kalamb - Ralegaon - Wadki). The second project is for rehabilitation and up-gradation of two lane with paved shoulder on EPC mode, from Majalgaon to Kaij.

Dilip Buildcon's net profit jumped 151.7% to Rs 108.64 crore on 41.9% rise in net sales to Rs 1388.43 crore in Q3 December 2016 over Q3 December 2015.

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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