Dilip Buildcon stock surges 11% as company mulls sale of 7 more HAM assets

On a year-to-date (YTD) basis, shares of Dilip Buildcon have slipped 8 per cent while the benchmark S&P BSE Sensex has gained over 2.50 per cent.

Shares of Dilip Buildcon zoomed as much as 10.76 per cent to Rs 426 apiece on the BSE in the intra-day trade on Monday. The company has recently signed deal to sell 100 per cent equity in five Hybrid Annuity Model (HAM) projects to Cube Infra.

Further, the company is in talks to sell seven more HAM assets, said Rohan Suryavanshi, Head - Strategy and Planning at Dilip Buildcon, in an interaction with CNBC-TV18 . The company's standalone debt would stand at Rs 3,300 crore while its consolidated debt would reduce by Rs 1,800 crore as a result of sale