Dilip Buildcon on another new high

Dilip Buildcon is buzzing loud and clear today, going on to hit a multi-year high. From its close of Rs.450.85, the stock opened almost 3.5% higher and went on to hit a new 52-week high at Rs.485.90, up 8%.

The stock hit a high on its announcement of receipt of new order.

The company, through Vijay Kumar Mishra Construction -Dilip Buildcon (JV)  has been declared as L-1 bidder for the tender floated by the Water Resources Department, Madhya Pradesh.

The project entails the construction of Achhrewa Irrigation Project Dam and Pressurized pipe irrigation network on turnkey basis.

The project cost is Rs 413 crore.

And yesterday, the company had announced that it had completed the construction of a bridge, including approaches across the Zuari river on NH-17/NH-66 on Panjim Mangalore section in Goa.

The company had bagged the Rs.545.4 crore project on an Engineering, Procurement and Construction (EPC).