Dilip Buildcon’s stock jumped 1.6% as the Company was declared the lowest bidder by the National Highways Authority of India.
The stocks hit an intraday high of Rs 348.80; and an intraday low of Rs 343.75 in Wednesday’s trading session.
The National Highway Authority of India declared the firm, for orders worth Rs 503.10 crore, as the L1 bidder or lowest-1 for the project. The project will be for the four laning, rehabilitation and upgradation of NH-4 from Nalagampalli to AP/Karnataka border in Andhra Pradesh. The project will be under the National Highways Development Project (NHDP)-IV in an engineering, construction and procurement mode.
The Company’s net profit in Q3FY17 rose 151.7% to Rs 108.64 crore, with net sales rising 41.9% to Rs 1388.43 crore (YoY). Dilip Buildcon Ltd is currently trading at Rs 345.5, up by Rs 6 or 1.77% from its previous closing of Rs 339.5 on the BSE.
The scrip opened at Rs 343.7 and has touched a high and low of Rs 347.8 and Rs 343.65 respectively. So far 50882(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4643.33 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 365.15 on 21-Mar-2017 and a 52 week low of Rs 178.6 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 364.95 and Rs 337.1 respectively.
The promoters holding in the company stood at 75.63 % while Institutions and Non-Institutions held 18.18 % and 6.19 % respectively. The stock is currently trading above its 50 DMA.