Indian stock markets have outperformed almost all the major stock markets around the world in 2017 except Hong Kong. The key equity indices Sensex and Nifty have returned about 28% in the last 12-month period. There have been many shares from small-cap to large-cap category which had risen multifold in the same period, beating the benchmark indices. The shares of heavyweight blue-chip companies such as HDFC Bank, Reliance Industries, Bharti Airtel, HDFC, YES Bank, IndusInd Bank and Maruti Suzuki have vastly outperformed Sensex and Nifty, returning up to 90%. We bring to you such a multi-bagger mid-cap stock which has zoomed 4 times in the one year and still has potential to rise.
Shares of Dilip Buildcon have risen over 4 times in the last one year period. The stock of Dilip Buildcon moved up as much as 315% to Rs 922 from a level of Rs 222 a year ago. With such huge returns, it has beaten the blue-chip stocks even. If you missed the opportunity to buy Dilip Buildcon at the levels of Rs 222 then there no need to worry because the stock has further potential left. The research and brokerage firm Axis Securities has given a further upside of 36% to a target price of Rs 1,227. Shares of Dilip Buildcon are included in ‘A’ group of stocks on Bombay Stock Exchange and is a component of S&P BSE 500 index.
Dilip Buildcon currently commands a market capitalisation of Rs 12,610.17 crore. Earlier in September 2017, Dilip Buildcon had declared a dividend of Re 1 per equity share of face value Rs 10. Recently, Dilip Buildcon said that the company has scheduled a board meeting on 25 December 2017 in order to discuss the issuance of debt securities to raise an amount worth Rs 600 crore. “Meeting of Board of Directors of the company is scheduled to be held on Monday, December 25, 2017 at the registered office of the company to inter-alia, consider and approve the authority for issue and allotment of 8.90% 6000 non-convertible debentures with a face value of Rs.10,00,000 /- (Rupees Ten lakhs only) each issued at par aggregating to Rs 600 crore ( rupees six hundred crores only), on a private placement basis and execution of the transaction documents and any other matter with the permission of the chair,” Dilip Buildcon said in an exchange filing.