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Dilip Buildcon surges with arm getting financial closure for project in Maharashtra

Dilip Buildcon is currently trading at Rs. 467.00, up by 10.25 points or 2.24% from its previous closing of Rs. 456.75 on the BSE.

The scrip opened at Rs. 454.70 and has touched a high and low of Rs. 469.25 and Rs. 453.15 respectively. So far 1900 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1248.35 on 15-May-2018 and a 52 week low of Rs. 311.55 on 05-Feb-2019.

Last one week high and low of the scrip stood at Rs. 513.00 and Rs. 453.15 respectively. The current market cap of the company is Rs. 6246.96 crore.

The promoters holding in the company stood at 75.63%, while Institutions and Non-Institutions held 16.09% and 8.28% respectively.

Dilip Buildcon’s wholly owned subsidiary — Mangalwedha Solapur Highways has received the financial closure letter dated May 7, 2019 from the National Highways Authority of India (NHAI) for the project of four laning of Sangli-Solapur Section of NH-166 from existing Ch.km. 314.969 to Ch. 370.452 of length 56.500 Km in the state of Maharashtra on Hybrid Annuity Mode. The bid project cost is Rs 1141.00 crore and the period of construction is 24 months.

Dilip Buildcon’s core business is undertaking construction projects across India in the roads and irrigation sectors. They specialize in constructing state and national highways, city roads, culverts and bridges.

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