Dilip Buildcon shares rise 6% as JV bags order worth Rs 1,275.3 crore

The share touched a 52-week high of Rs 347.80 and a 52-week low of Rs 159.70 on 02 August, 2023 and 19 May, 2023, respectively.

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Dilip Buildcon share prices rose 6 percent intraday on September 5 after the company’s JV bagged an order worth Rs 1,275.3 crore.

Dilip Buildcon Limited – Patel Engineering Ltd. (JV) has received letter of acceptance (LOA) for new project of engineering, procurement, construction, testing, commissioning, trial run and operation & maintenance for 10 years of Narmada Gambhir Multi Village Drinking Water Supply Scheme District Ujjain in single package on turnkey job basis, order worth Rs 1,275.30 crore.

The said order is to be completed in 24 months.

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On September 4, the company’s another JV, Dilip Buildcon Limited – Vijay Kumar Mishra Construction, has executed the agreement with the Water Resources Department Madhya Pradesh, Bhopal (MP).

The contract included construction of Malhargarh Pressurized Micro Lift Major Irrigation Project on turnkey basis (project for 46500 ha. irrigation) comprising of preparation of construction drawings & design, obtaining approval of all construction drawing & design from the competent authority including construction of all civil, mechanical and electrical works involved in the construction of project.

The said project cost is Rs 699.03 crore and to be completed in 36 months.

In August, company’s JV with Patel Engineering declared as L-1 bidder for the tender floated by the Madhya Pradesh Jal Nigam, Ujjain, Madhya Pradesh, with project cost of Rs 1275.30 crore.

The share touched a 52-week high of Rs 347.80 and a 52-week low of Rs 159.70 on 02 August, 2023 and 19 May, 2023, respectively.

Currently, the stock is trading 5.62 percent below its 52-week high and 105.54 percent above its 52-week low.