Dilip Buildcon shares end 3% higher as board to consider fundraising on November 7

Shares of Dilip Buildcon Ltd gained over 3% intraday after the civil construction firm said its board of directors would consider fund-raising options in a meeting on November 7. Dilip Buildcon shares rose 3.17% to Rs 321.95 against the previous close of Rs 312.05 on BSE. Dilip Buildcon stock opened higher at Rs 315 on BSE. Total 0.29 lakh shares of the firm changed hands amounting to a turnover of Rs 91.64 lakh on BSE. Market cap of the firm stood at Rs 4,684.73 crore. Later, the stock closed 2.68% higher at Rs 320.40. 

Dilip Buildcon has a one-year beta of 1, indicating average volatility during the period.

In terms of technicals, the relative strength index (RSI) of the stock stands at 50.6, signaling the stock is neither oversold nor overbought. Dilip Buildcon shares stand higher than the 5 day, 20 day, 50 day, 100 day, 200 day moving averages. 

The stock has gained 45.50% in a year and risen 45.74 % in 2023. 

It hit a 52 week high of Rs 351.30 on October 20, 2023 and a 52 week low of Rs 159.70 on May 19, 2023.  The firm will announce its earnings on November 7, 2023. 

In the first quarter of this fiscal, Dilip Buildcon reported a revenue of Rs 2944.3 crore for the first quarter against Rs 2906.2 crore in the corresponding quarter of the previous fiscal. Consolidated profit rose to Rs 12.7 crore in the September quarter from Rs 53.9 crore loss in Q1FY23. Operating profit climbed to Rs 393.6 crore in Q1 against Rs 277 crore in the June 2022 quarter. 

Dilip Buildcon Limited is an engineering, procurement, and construction (EPC) company. The company operates through two segments: Engineering, Procurement and Construction (EPC) Projects & Road infrastructure Maintenance and Annuity Projects & Others. The Company's projects are around roads and highways, sewage treatment, dams, rails & metro, airport, mining, irrigation, tunnel, special bridges, commercial buildings, and urban development.  

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