Dilip Buildcon share price advanced 4.2 percent intraday Thursday as it has signed an MOU with Shrem Infraventure.
National Highway Authority of India (NHAI) has issued Letter of Award to the company for execution of Tuljapur-Ausa road project, in the state of Maharashtra.
The company has signed an MOU with Shrem Infraventure who will invest 49 percent of the equity share capital in the SPV to be incorporated for the said project and the company will hold the remaining 51 percent stake in said SPV.
On completion of two years from the commercial operation date of the project, the Shrem Infra will acquire 100 percent stake of the SPV.
The trading window for dealing in the securities of the company by its designated employees, directors and promoters shall be closed from March 22 to March 24, 2017 (both days inclusive).
At 10:08 hrs Dilip Buildcon was quoting at Rs 357, up Rs 8.65, or 2.48 percent on the BSE.
Posted by Rakesh Patil
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