Dilip Buildcon gains after winning bid for a national highway project

Dilip Buildcon gained 2.22% to Rs 242.25 at 12:08 IST on BSE after the company won a national highway project on engineering, procurement and construction mode in West Bengal.

The announcement was made during market hours today, 1 September 2016.

Meanwhile, the S&P BSE Sensex was up 6.98 points, or 0.02%, to 28,459.15

On BSE, so far 79,000 shares were traded in the counter, compared with average daily volume of 1.47 lakh shares in the past two weeks. The stock hit a high of Rs 244.80 and low of Rs 236.85 so far during the day. The stock hit record high of Rs 258.80 on 12 August 2016. The stock hit a record low of Rs 215.40 on 29 August 2016.

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

Dilip Buildcon (DBL) announced that National Highways Authority of India (NHAI) has declared the company as the lowest bidder for four laning of NH-6 from Chichra to Kharagpur in West Bengal under engineering, procurement and construction (EPC) mode at a project cost of Rs 613.08 crore having length of 55.52 kilometres and completion period of 30 months. This road project is adjoining to the existing project of the company, DBL said.

DBL's consolidated net profit rose 124% to Rs 196.60 crore on 56% growth in net sales to Rs 4315.40 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).

DBL is one of the leading road-focused engineering, procurement and construction (EPC) contractors in India.

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