Share price of Dilip Buildcon rose over 2 per cent in intraday trade on the Bombay Stock Exchange (BSE) on Tuesday after the infrastructure development firm said it has been declared the lower bidder by Delhi Metro Rail Corporation Ltd for Rs 825.62 crore project.
"Dilip Buildcon through JV has been declared L-1 bidder for the project 'part design and construction of elevated viaduct, elevated ramp, siding lines, viaduct for connection to Mukundpur depot and four elevated stations, Phase-IV of Delhi MRTS and partly integrated and partly independent flyover of PWD between Azadpur and Derawal Nagar on G T Road by Delhi Metro Rail Corporation Ltd," the company said in a BSE filing.
Boosted by the development, shares of Dilip Buildcon rose as much as 2.46 per cent to touch an intraday high of Rs 386.40 after opening higher at Rs 380 against previous closing price of Rs 377.10.
In a similar trend, Dilip Buildcon shares were trading 0.42 per cent higher at Rs 378.75 apiece on the National Stock Exchange. The scrip has touched a day's high of Rs 387 after opening higher at Rs 379.40.
The completion period of the 7.4-km work is 30 months, the company said in the filing.
The project involves design and construction of elevated viaduct and ramp, siding lines, viaduct for connection to Mukundpur Depot and four elevated stations at B halswa, Majlis Park, Azadpur and Ashok Vihar station.
Recently, the company has completed the development of four lanes with paved shoulders of Shahkot-Moga section of NH-71 (New NH No. 703), including construction of Dharamkot Bypass in the state of Punjab under NHDP-IV on EPC mode.
At the end of September 2019, the company's total order book stood at Rs 20,292.60 crore.
Edited by Chitranjan Kumar