Dilip Buildcon’s stock surged to a 52-week high during early trading on February 16 following an announcement that its joint venture with Vijay Kumar Mishra Construction Pvt Ltd emerged as the lowest bidder for a project under the Madhya Pradesh Water Resources Department.
The share price peaked at Rs 485.90, marking its highest level in the past 52 weeks. By 9:21 am, the stock was trading at Rs 479.55 on the BSE, reflecting a gain of Rs 28.70 or 6.37 percent.
The share price peaked at Rs 485.90, marking its highest level in the past 52 weeks. By 9:21 am, the stock was trading at Rs 479.55 on the BSE, reflecting a gain of Rs 28.70 or 6.37 percent.
The project in question entails the construction of the Machhrewa Irrigation Project Dam and the establishment of a pressurized pipe irrigation network on a turnkey basis. With a project cost estimated at Rs 412.92 crore, the venture is slated for completion within 60 months.