Dilip Buildcon stock surges 6% on bagging NHAI order in Chhattisgarh

Shares of Dilip Buildcon rose 6% in early trade today after the firm said it has won an order for a road project order in Chhattisgarh worth Rs 1,141 crore.

Dilip Buildcon stock rose 5.7% to Rs 284.85 against the previous close of Rs 269.40 on BSE. The stock has gained after four days of consecutive fall.  Dilip Buildcon share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Dilip Buildcon share has lost 57.13% in one year and fallen 39% since the beginning of this year. Total 0.93 lakh shares of the firm changed hands amounting to a turnover of Rs 2.55 crore on BSE.

Market cap of the firm rose to Rs 3,994 crore on BSE. The small cap stock hit a 52 week high of Rs 749.30 on October 13, 2021 and a 52-week low of Rs 266.90 on February 2, 2022.

Dilip Buildcon has been declared as L-1 bidder for a new Hybrid Annuity Model (HAM) project under Raipur-Visakhapatnam in the state of Chhattisgarh, order worth Rs 1,141  crore.

The order, which is for tenders floated by the National Highways Authority of India on Hybrid Annuity basis in Chhattisgarh is for the development of the six lane Sargi - Basanwahi Section of NH-130-CD Road under Raipur-Visakhapatnam Economics Corridor, reports said.

In Q3 of current fiscal, the firm reported a loss of Rs 19.16 crore against a profit of Rs 107.17 crore in the corresponding quarter of previous fiscal.

Sales fell 18.23% to Rs 2245 crore in Q3 against Rs 2,746 crore sales in December 2020 quarter. Operating profit declined 92.81% to Rs 45.34 crore in last quarter against Rs 630.48 cr in Q3 od previous fiscal.