Dilip Buildcon gains after JV emerges as L-1 bidder for EPC project

Dilip Buildcon rose 1.69% to Rs 424.30 at 9:21 IST on BSE after the company said that its joint venture firm has been declared L-1 bidder for a new EPC project in Karnataka.

The announcement was made before market hours today, 17 July 2019.

Meanwhile, S&P BSE Sensex was up 51.95 points or 0.13% at 39,182.99.

On BSE, 6,225 shares were traded in Dilip Buildcon counter, compared to a 2-week average of 43,000 shares. The share price hit an intraday high of Rs 425.50 and an intraday low of Rs 419. It hit a 52-week high of Rs 915.75 on 6 August 2018 and a 52-week low of Rs 311.55 on 5 February 2019.

Dilip Buildcon said that it has formed a joint venture (JV) with Shaanxi Road & Bridge Group Co (DBL - SRBG). The DBL - SRBG JV has been declared L-1 bidder for a new engineering, procurement, construction (EPC) project for construction of extra-dosed bridge across Sharavathi backwaters and approaches between Ambargodu and Kalasavalli of National Highway (NH)-369E in Karnataka. The bid project cost is Rs 360.09 crore. The completion period is 36 months.

Further, Dilip Buildcon announced before trading hours today, 17 July 2019, that, the project of four laning Mahulia-Baharagora-JH/WB boarder section of NH-33 and NH-06 in Jharkhand under NHDP Phase -III on EPC mode has been provisionally completed. The provisional completion certificate has been issued by the authority on 16 July 2019 and has declared the project fit for entry into operation as on 5 July 2019.

Dilip Buildcon's net profit fell 6% to Rs 216.06 crore on a 0.5% rise in net sales to Rs 2,570.96 crore in Q4 March 2019 over Q4 March 2018.

Dilip Buildcon is an India-based company engaged in the business of infrastructure facilities on engineering, procurement and construction (EPC) basis. The Company undertakes contracts from various government and other parties and special purpose vehicles promoted by the Company.

Powered by Capital Market - Live News