Dilip Buildcon share gained over 11% today after the firm said it has received a Letter of Acceptance (LOA) from the National Highways Authority of India (NHAI) for a new Hybrid Annuity Model project in Bihar. Share price of Dilip Buildcon gained up to 11.67% to Rs 390 on BSE.
The stock has gained after 2 days of consecutive fall. It opened with a gain of 5.03% at Rs 366 against previous close of Rs 349.25. The share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.
The share has lost 13.23% in one year and fallen 8.43% since the beginning of this year. In one month, the share has gained 6.52%. Total 0.17 lakh shares changed amounting to turnover of Rs 64 lakh on BSE. Market cap of the firm rose to Rs 5,020 crore on BSE.
At 1: 40 pm, Dilip Buildcon share was trading 5.14% higher at Rs 367.20.
"DBL has received letter of acceptance (LOA) for a new HAM project viz. 'Construction and upgradation of NH - 131A from Km 34.600 (design Ch: 6.000) near Narenpur to Km 79.970 (design Ch: 53.000) near Purnea to 4 lane standard and from Km 79.970 (design Ch: 53.000) to Km 82.000 (design Ch: 55.000) near Purnea to 2 lane with paved Shoulders standard in the State of Bihar on (Hybrid Annuity) Mode Project, " said the firm in a communication to BSE.
The project cost of the project is Rs 1,905 crore. It is to be completed in 24 months and its operation period is 15 years from the commercial operation date (COD), the company said.
On August 27 this year, Dilip Buildcon share price rose 4% after the company said it won a project in Karnataka from the National Highways Authority of India (NHAI). The bid project cost was Rs 1,274 crore.
The project is scheduled to be completed in 24 months and the operation period of the project is 15 years from the commercial operation date. The project to widen a section of NH 648 falls under the Bharatmala Pariyojana, it said.