Dilip Buildcon gained 1.82% to Rs 246.40 at 10:45 IST on BSE after the company announced winning a road project from National Highways Authority of India.
The announcement was made at the fag end of the trading session yesterday, 18 August 2016. The stock rose 0.17% to settle at Rs 242 yesterday, 18 August 2016.Meanwhile, the S&P BSE Sensex was down 1.05 points, or 0.01%, to 28,122.39.
On BSE, so far 1.04 lakh shares were traded in the counter, compared with an average daily volume of 4.36 lakh shares in the past one week. The stock hit a high of Rs 249.90 and low of Rs 245.55 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 226.55 on 17 August 2016.
Shares of Dilip Buildcon were listed on the stock exchanges on 11 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 selected bidder for four laning of the Lucknow-Sultanpur section of NH-56 in Uttar Pradesh under National Highways Development Project (NHDP) Phase-IV on hybrid annuity basis at a project cost of Rs 2016 crore and the first year operation and maintenance (O&M) cost of Rs 5 crore.
The company said that it will update in case of any further developments in relation to the project, including incorporation of a subsidiary for the project and entering into a concession agreement pursuant to the terms of the letter of award.
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). As of 31 March 2016, the company had order book of Rs 10800 crore. Government contracts accounted for 76.27% of the order book as on 31 March 2016.
DBL is one of the leading road-focused engineering, procurement and construction (EPC) contractors in India.
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