Dilip Buildcon hits new high

Dilip Buildcon is among the top five gainers on the BSE today morning; from its close of Rs.375.80, the stock opened slightly higher at Rs.377 and went to hit a new 52-week high at Rs.404 and currently trades at Rs.400 levels.

The stock price hit a new high on its announcement that is finally completed the construction of a bridge including approaches across river Zuari in the Panjim-Mangalore section of the state of Goa.

This was a long drawn project – it was originally scheduled to be completed in April’16; then it was moved to April’19 and the final was August’23.

The total project cost was Rs.545.40 crore.

Meanwhile, it did well on the earnings front too. It reported a fourfold jump in consolidated net profit for Q2FY24 at Rs.69 crore v/s Rs.17 crore (YoY).

The company said that its net order book as at 30th Sept’23 stood at Rs.24,000 crore, down from Rs.26,300 crore year -ago.