Dilip Buildcon gains after emerging as lowest bidder for a contract

Dilip Buildcon rose 1.87% to Rs 934.60 at 9:44 IST on BSE after the company said it has been declared as the lowest bidder for a road project valued at Rs 380.07 crore in Karnataka.

The announcement was made after market hours yesterday, 20 February 2018.

Meanwhile, the S&P BSE Sensex was up 47.58 points or 0.14% at 33,751.17.

On the BSE, 14,000 shares were traded on the counter so far as against average daily volumes of 64,498 shares in the past one quarter. The stock had hit a high of Rs 957.55 and a low of Rs 929 so far during the day. The stock had hit a record high of Rs 1,059 on 27 February 2017 and a 52-week low of Rs 254 on 9 March 2017.

The stock had outperformed the market over the past one month till 20 February 2018, sliding 2.81% compared with the Sensex's 5.09% fall. The stock had also outperformed the market over the past one quarter, advancing 6.69% as against the Sensex's 1.03% rise. The scrip had also outperformed the market over the past one year, surging 214.57% as against the Sensex's 17.59% rise.

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

Dilip Buildcon said it has been declared as the lowest (L-1) bidder for a new engineering, procurement and construction (EPC) road project valued at Rs 380.07 crore by the National Highways Authority of India (NHAI) in Karnataka. The length of the road project is 52.30 kilometers and the project is expected to be completed in 30 months.

Dilip Buildcon's net profit surged 51.6% to Rs 164.70 crore on 39.8% growth in net sales to Rs 1942.12 crore in Q3 December 2017 over Q3 December 2016.

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

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