Share price of Dilip Buildcon gained over 6% today after the company was declared lowest bidder for a project by NHAI. Dilip Buildcon stock rose 6.6% intra day to Rs 306 against the previous close of Rs 287.05 on BSE. Later, the stock closed 4.06% higher at Rs 298.70.
The stock has gained 6.82% in two days. The stock stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.
The project involves four-laning of NH363 from Repallewada to Telangana/Maharashtra Border in Telangana under NH (O) on Hybrid Annuity mode (HAM). The cost of project is Rs 1140.50 crore and will be completed in 24 months.
In another win, the firm also through a JV was declared as L-1 bidder for a new project by Rail Vikas Nigam. The project entails construction of tunnels, bridges, yard and formation works from chainage under package-9 in connection with new line between Rishikesh and Karanprayag (125km) in Uttarakhand. The 7.955 km project involves cost of Rs 1,334.95 crore and will take 50 months to be completed.
Dilip Buildcon Limited 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.