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Dilip Buildcon share price rises over 7% after firm declared lowest bidder for NHAI project

Dilip Buildcon share price rose up to 7.24% to 600.90 compared to the previous close of 560.35 on BSE. Dilip Buildcon share price opened at 568 level on BSE.

twitter-logoBusinessToday.In | March 11, 2019 | Updated 10:44 IST
Dilip Buildcon share price rises over 7% after firm declared lowest bidder for NHAI project

The Dilip Buildcon share price rose in early trade today after the firm said it has been as been declared lowest bidder for engineering, procurement and construction project by NHAI in Maharashtra for laning of national highway -547E at a cost of Rs 480.06 crore.

Dilip Buildcon share price rose up to 7.24% to 600.90 compared to the previous close of 560.35 on BSE. Dilip Buildcon share price opened at 568 level on BSE.

Dilip Buildcon share price has fallen 39.07% during the last one year and gained 43.01% since the beginning of this year.

Dilip Buildcon has gained after two days of consecutive fall.

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13 of 15 brokerages rate the stock "buy" or 'outperform' and two "hold", according to analysts' recommendations tracked by Reuters.

The Dilip Buildcon share price was trading above its 50-day and 200 day moving average of 403 and 495 levels, respectively. Dilip Buildcon share clocked Rs 5.49 crore in turnover with 93,000 shares changing hands on BSE.

Dilip Buildcon share hit its 52-week high of 1,248.35 May 15, 2018 and touched its 52-week low of 311.55  of February 5, 2019.

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 company. It operates through construction and engineering contracts segment. Its business of construction and development of real estate is at nascent-stage and no operations have commenced.

Meanwhile, the Sensex was trading 300 points higher at 36,971 and Nifty rose 101 points to 11,136.

Edited by Aseem Thapliyal

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