Dilip Buildcon share price was up 2 percent in the morning trade on February 26 after the company emerged as the lowest bidder for two projects.
The company has been declared as L-1 bidder for two National Highways Authority of India Hybrid-Annuity Model (HAM) projects under Bharatmala Pariyojana, Phase I in the state of Tamil Nadu and Union Territory of Puducherry of orders worth Rs 2241 crore, the company said in an exchange filing.
The project includes making Viluppuram Puducherry section of NH 45A (New NH 332) into four-lane under Bharatmala Pariyoiana Phase I (Residual NHDP IV work) on HAM in the state of Tamil Nadu and Union Territory of Puducherry, it said.
The stock was trading at Rs 681.80, up Rs 15.05, or 2.26 percent at 09:58 hours. It has touched a 52-week high of Rs 684.70. It has touched an intraday high of Rs 684.70 and an intraday low of Rs 646.20.
Dilip Buildcon was also declared as L-l bidder for two new HAM proiects "Bangalore-Chennai Expressway under Bharatmala Pariyoina in the state of Karnataka, Phase -l worth Rs 2,439 crore, the company said in an exchange filing.
Brokerage firm Geojit has a buy recommendation on the stock with target of Rs 753 per share. The company is in the advanced stages of monetising 12 HAM projects and expects cash flow of Rs 2,000 crore over FY22 and FY23. We maintain Buy rating due to strong order book and positive economic activity, the firm added.
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