Dilip Buildcon soars after receiving LoA from NHAI

Dilip Buildcon jumped about 4 per cent intraday on Monday after the company received letter of award (LoA) from National Highways Authority of India (NHAI) for a project in Karnataka. 

Dilip Buildcon received LoA worth Rs. 1,313.90 for a new hybrid annuity project which includes four laning of Bellary to Byrapura section of NH-150A under Bharatmala Pariyojana in Karnataka. The construction period is 24 months and operation period is of 15 years. 

Last week, the company reported 11 per cent YoY growth in its consolidated net profit at Rs. 2.18 billion for March 2018 quarter. 

At 12:50 hours, Dilip Buildcon was trading at Rs. 873 per share, up Rs. 19.15 or 2.24 per cent on BSE. The scrip opened at Rs. 884.90 and touched an intraday high of Rs. 893.40 per share on BSE. The scrip has a 52-week high of Rs. 1,248.35 and a 52-week low of Rs. 405.05 per share on BSE. The stock attracted a trading volume of 1,43,800  shares on BSE.