Dilip Buildcon soars as its arm gets the financial closure letter for Bangalore-Chennai Expressway project

Dilip Buildcon is currently trading at Rs. 206.75, up by 5.00 points or 2.48% from its previous closing of Rs. 201.75 on the BSE.

dilip buildcons arm gets financial closure for project in maharashtra
dilip buildcons arm gets financial closure for project in maharashtra

The scrip opened at Rs. 204.90 and has touched a high and low of Rs. 208.60 and Rs. 202.20 respectively. So far 19113 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 749.30 on 13-Oct-2021 and a 52 week low of Rs. 187.40 on 01-Jul-2022.

Last one week high and low of the scrip stood at Rs. 209.90 and Rs. 193.60 respectively. The current market cap of the company is Rs. 2949.89 crore.

The promoters holding in the company stood at 70.15%, while Institutions and Non-Institutions held 16.88% and 12.97% respectively.

Dilip Buildcon’s wholly owned subsidiary — Bangarupalem Gudipala Highways has received the financial closure letter from the National Highways Authority of India (NHAI) for Bangalore-Chennai Expressway project.

The said project is for construction of 4 lane Bangalore-Chennai Expressway from Km 127.000 (Bangarupalem) to Km 156.000 (Gudipala) Section in the State of Andhra Pradesh under Bharatmala on Hybrid Annuity Mode (Phase II /Package III). The project cost is Rs 1,060 crore.

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.