Dilip Buildcon slumps after poor Q2 results

Dilip Buildcon fell 11.01% to Rs 225.60 at 11:17 IST on BSE after 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.

The result was announced after market hours yesterday, 1 December 2016.

Meanwhile, the BSE Sensex was down 205.29 points, or 0.77%, to 26,354.63.

On the BSE, so far 1.18 lakh shares were traded in the counter, compared with average daily volumes of 44,486 shares in the past one quarter. The stock had hit a high of Rs 239.90 and a low of Rs 220.25 so far during the day.

The stock hit a record high of Rs 261.90 on 1 December 2016. The stock hit a record low of Rs 178.60 on 9 November 2016. The stock had outperformed the market over the past 30 days till 1 December 2016, rising 14.94% compared with the 3.51% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.13% as against Sensex's 6.91% decline.

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

Shares of Dilip Buildcon were listed on the stock market on 11 August 2016. The stock debuted at Rs 240, a premium of 9.59% over the initial public offer (IPO) price of Rs 219. On that day, the stock settled at Rs 251.95 on BSE, a premium of 15.04% over the IPO price.

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

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