Dilip Buildcon rises after provisionally completing road project

Dilip Buildcon rose 2.14% to Rs 385 after the company said it received provisional completion certificate for a road project in Andhra Pradesh.

Dilip Buildcon announced that it has provisionally completed the rehabilitation and up-gradation of Eeppurupalem-Ongole section of National Highway (NH)-214A (New NH-216) to two lane with paved shoulder in Andhra Pradesh under NHDP-IV on EPC basis. The provisional completion certificate has been issued by the authority 17 August 2019 and has declared the project fit for entry into operation as on 20 July 2019. The announcement was made before the market hours today, 28 August 2019.

Shares of Dilip Buildcon soared 14.29% in four trading sessions to its current market price of Rs 385, from a recent closing low of Rs 336.85 on 22 August 2019.

On BSE, 9,827 shares were traded in Dilip Buildcon counter, compared to a 2-week average of 24,000 shares. The stock hit an intraday high of Rs 387.10 and an intraday low of Rs 381.50.

It hit a 52-week high of Rs 848.95 on 31 August 2018 and a 52-week low of Rs 311.55 on 5 February 2019.

Dilip Buildcon is engaged in the business of infrastructure facilities on engineering, procurement and construction (EPC) basis. The firm undertakes contracts from various government and other parties and special purpose vehicles promoted by the company.

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