Dilip Buildcon shares rise over 6% on Rs 1275-crore order win from MP govt

Shares of Dilip Buildcon Ltd rose over 6% today after the civil construction firm said it has received a letter of acceptance (LOA) for a new project from the Madhya Pradesh government. The project relates to ‘engineering procurement construction testing commissioning trial Run and Operation and Maintenance for 10 years of Narmada Gambhir Multi Village drinking water supply scheme district Ujjain in single package on turnkey job basis. The value of the order is Rs 1,275.30 crore. 

Dilip Buildcon shares gained 6.64% to Rs 336 against the previous close of Rs 315.05 on BSE. Dilip Buildcon stock opened lower at Rs 314 on BSE. Total 1.22 lakh shares of the firm changed hands amounting to a turnover of Rs 4.03 crore on BSE. Market cap of the firm stood at Rs 4,839 crore.      

In terms of technicals, the relative strength index (RSI) of the stock stands at 60.2, signaling the stock is neither oversold nor overbought. Dilip Buildcon has a one-year beta of 1, indicating average volatility during the period. Dilip Buildcon shares are trading higher than the 5 day, 20 day, 50 day, 100 day, 200 day moving averages. 

Dilip Buildcon logged a revenue of Rs 2944.3 crore for the first quarter ended June 30 against Rs 2906.2 crore in the corresponding quarter of the previous fiscal. Consolidated profit climbed to Rs 12.7 crore in Q1 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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