Dilip Buildcon gets stronger after winning new order

Dilip Buildcon rose 2.28% to Rs 228.55 at 10:05 IST on BSE after the company announced that a new project is awarded to the company in Andhra Pradesh.

The announcement was made after market hours yesterday, 15 December 2016.

Meanwhile, the BSE Sensex was down 13.42 points, or 0.05%, to 26,496.92.

On the BSE, 26,080 shares were traded in the counter so far, compared with average daily volumes of 41,998 shares in the past one quarter. The stock had hit a high of Rs 233.90 and a low of Rs 228 so far during the day.

Dilip Buildcon announced that the company has been declared as successful bidder by the Ministry of Road Transport and Highways, Government of India for the project of rehabilitation and upgradation of Machilipatnam to Avinigadda section of NH-214A to two lane with paved shoulder in Andhra Pradesh.

The project was awarded under The National Highways Development Project (NHDP)-IV through engineering, procurement and construction (EPC) basis at a project cost of Rs 260.10 crore having length 34.40 kilometers and completion period of 24 months.

Shares of Dilip Buildcon were listed on the stock market on 11 August 2016.

Dilip Buildcon's net profit fell 82.7% to Rs 6.97 crore on 3.5% increase in net sales to Rs 915.66 crore in Q2 September 2016 over Q2 September 2015.

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

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