Dilip Buildcon gains 2% after bagging dam project

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Dilip Buildcon shares gained 2 percent intraday on July 30 as the construction company bagged order to construct a dam in Jharkhand.

The stock rallied 28 percent in the last six months. It was quoting Rs 420.60, up Rs 3.70, or 0.89 percent on the BSE at 1113 hours.

"Company has been declared L-1 bidder for the project 'construction of Kharkai Dam at Icha with all control gates and its allied works including civil, mechanical (with design of gates), electrical and SCADA System under SMP in Jharkhand," Dilip Buildcon said in its BSE filing.

The company further informed exchanges that it has been declared L-1 bidder by the Water Resources Department for the project in Jharkhand.

In addition, its wholly-owned subsidiaries DBL Sangli Borgaon Highways Private Limited and DBL Mangalwedha Solapur Highways Private Limited received the appointed date i.e May 23, 2019, from the National Highways Authority of India.