Dilip Buildcon rose 1.60% to Rs 425.40 after the company executed an agreement with the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for EPC project in the state.
The project is for development of Gorakhpur Link Expressway Project and is fully access controlled 4-lane (expandable to 6 lanes) divided carriage way in Uttar Pradesh on engineering procurement construction (EPC) basis. The bid project cost is Rs 1250.01 crore and completion period is 36 months. The statement was released during trading hours today, 23 January 2020.In the past one month, shares of Dilip Buildcon rose 6.34%. On the technical front, the stock's RSI (relative strength index) stood at 57.054. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was currently trading between its 10-day moving average (DMA) placed at Rs 420.52 and its 200-DMA placed at Rs 447.17.
On a consolidated basis, Dilip Buildcon's net profit tumbled 56.9% to Rs 25.87 crore on a 15.4% increase in net sales to Rs 1,994.40 crore in Q2 September 2019 over Q2 September 2018.
Dilip Buildcon is engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The company undertakes contracts from various government and other parties and special purpose vehicles promoted by the firm.
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