Dilip Buildcon rises after emerging as lowest bidder

Dilip Buildcon rose 0.63% to Rs 1,011.10 at 10:19 IST on BSE after the company was declared as lowest bidder for a road project valued at Rs 770.04 crore.

The announcement was made before market hours today, 9 March 2018.

Meanwhile, the S&P BSE Sensex, was up 107.33 points or 0.32% to 33,458.90.

On the BSE, 25,000 shares were traded on the counter so far as against average daily volumes of 72,000 shares in the past two weeks. The stock had hit a high of Rs 1,025 and a low of Rs 997.65 so far during the day. The stock had hit a record high of Rs 1,059 on 27 February 2017 and a 52-week low of Rs 254 on 9 March 2017.

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

DBL was declared as lowest (L-1) bidder for a new engineering, procurement and construction (EPC) project valued at Rs 770.04 crore by the National Highways Authority of India under NHDP-IVB for Dagamagpur - Lalganj (Pkg-2) in Uttar Pradesh. The project completion period is 30 months.

Dilip Buildcon's net profit surged 51.6% to Rs 164.70 crore on 39.8% growth in net sales to Rs 1942.12 crore in Q3 December 2017 over Q3 December 2016.

Dilip Buildcon is a road-focused engineering procurement construction (EPC) contractor.

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