Dilip Buildcon gains after winning two orders

Dilip Buildcon rose 1.72% to Rs 239.35 at 12:25 IST on BSE after the company said it has received orders from Ministry of Road Transport and Highway and National Highways Authority of India.

The announcements were made after market hours on Friday, 23 September 2016.

Meanwhile, the BSE Sensex was down 207.25 points, or 0.72%, to 28,460.97.

On BSE, so far 90,000 shares were traded in the counter, compared with average daily volume of 77,000 shares in the past two-weeks. The stock hit a high of Rs 248 and a low of Rs 238.60 so far during the day. The stock hit a 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 stock had underperformed the market over the past 30 days till 23 September 2016, rising 0.97% compared with 2.99% rise in the Sensex.

Shares of Dilip Buildcon were listed on the stock exchanges on 11 August 2016. On that day, the stock debuted at Rs 240, a premium of 9.59% over the initial public offer (IPO) price of Rs 219 per share.

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

Dilip Buildcon (DBL) has received orders from Ministry of Road Transport and Highway (MORTH) and National Highways Authority of India (NHAI).

The project from MORTH involves rehabilitation and upgradation of Eeppurpalem - Ongole section from Km 195+000 to Km 254+500 of national highway (NH)-214A (New NH-216) to two lane with paved shoulder in the state of Andhra Pradesh under NHDP - IV on engineering, procurement and construction (EPC) basis at a project cost of Rs 350.01 crore having length of 57.874 Km and completion period of 24 months.

The Letter of Award from NHAI involves four laning with paved shoulders of NH-6 from Chichra to Kharagpur (Km 185.150 to Km 134.400) including rehabilitation of existing four lane road from Km 134.400 to Km 129.600 in the state of West Bengal under EPC mode with a project cost of 613.09 and completion period of 30 months.

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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