Dilip Buildcon shares surged as much as 5 per cent in the early trade on Monday after the company informed bourses on Saturday that it has received orders from Ministry of Road Transport and Highway (MORTH) and National Highways Authority of India (NHAI) on Thursday worth of Rs 963 crore. At 10.23 am, shares of the company were trading 3 per cent up at Rs 244.90. The scrip opened the day at Rs 244.90 and has touched a high and low of Rs 248 and Rs 241.60, respectively, in trade so far. Later, the scrip closed 0.76 per cent up at Rs 237.10.
The project from MORTH involves rehabilitation and upgradation of Eeppurpalem – Ongole section from Km 195+000 to Km 254+500 of NH-214A (New NH-216) to two lane with paved shoulder in the state of Andhra Pradesh under NHDP – IV on EPC basis at a project cost of Rs 350.01 crore having length of 57.874 Km and completion period of 24 months. The Letter of Award from NHAI involves four laning with paved shoulders of NH-6 from Chichra to Kharagpur (Km 185.150 to Km 134.400) including rehabilitation of existing four lane road from Km 134.400 to Km 129.600 in the state of West Bengal under EPC mode with a project cost of 613.09
Since listing, the share price of Dilip Buildcon has fallen 6.61 per cent to Rs 235.30 till September 23 from Rs 251.95 on August 11. The company’s core business is undertaking construction projects across India in the roads and irrigation sectors. It specialise in constructing state and national highways, city roads, culverts and bridges.