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Dilip Buildcon gains on emerging lowest bidder for MP project

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Dilip Buildcon rose 1.90% to Rs 447.80 after the company said it emerged as the lowest bidder for a contract in Madhya Pradesh.

Dilip Buildcon said it emerged as L-1 (lowest) bidder for a new overburden removal contract mining work for Nigahi project in Madhya Pradesh. The tender for the contract was floated by Northern Coalfield (NCL), a subsidiary of Coal India (CIL). The contract is valued at Rs 2122.73 crore. The contract period is 1552 days. The announcement was made during trading hours today, 26 September 2019.

Meanwhile, the S&P BSE Sensex was up 373 points or 0.97% to 38966.41.

On the BSE, 37,801 shares were traded in the counter so far compared with average daily volumes of 50,258 shares in the past two weeks. The stock hit a high of Rs 456 and a low of Rs 439.65 so far during the day.

The stock hit a 52-week high of Rs 749.95 on 25 Sep 2018. The stock hit a 52-week low of Rs 311.55 on 05 Feb 2019.

Dilip Buildcon's consolidated net profit fell 54.9% to Rs 100.42 crore on 3.4% fall in net sales to Rs 2436.44 crore in Q1 June 2019 over Q1 June 2018.

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 26 2019. 14:59 IST