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Dilip Buildcon share price strikes its lifetime 52 week high

On February 26, share price of Dilip Buildcon rose over 2 percent in the morning trade as per the market. This is post it’s emergence as the lowest bidder for two projects.

It includes two projects of National Highways Authority of India Hybrid-Annuity Model that declared the company a L-1 bidder.

Moreover, these projects are under Bharatmala Pariyojana, Phase I in the state of Tamil Nadu and Union Territory of Puducherry.

Further, the value of the orders are at a whopping Rs 2241 crore.

The aim is to create Viluppuram Puducherry section of NH 45A into four-lane under Bharatmala Pariyoiana Phase I on HAM.

This is present in the state of Tamil Nadu and Union Territory of Puducherry.

Further, two new HAM projects also declared the company as L-l bidder.

These consist of Bangalore-Chennai Expressway under Bharatmala Pariyoina in the state of Karnataka, Phase -l worth Rs 2,439 crore.

At 09:58 hours on Friday, the company’s stock was trading at Rs 681.80, surged Rs 15.05, or 2.26 percent.

However, it has successfully reached an all time 52-week high of Rs 684.70.

The company has also managed to hit an intraday high of Rs 684.70 besides an intraday low of Rs 646.20.

Meanwhile, brokerage firm Geojit has a buy rating on the stock with target of Rs 753 per share.

As per reports, Dilip Buildcon is in it’s initial phase of monetising 12 HAM projects. It is further expecting a cash flow of Rs 2,000 crore over FY22 and FY23.

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