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Dilip Buildcon shares jump 2% on LoA for Rs 1,278 cr project in Karnataka

The proiect includes 4-laning from 42 km to 80 km of Dodabaltapur Bypass to Hoskote section of NH-648 (Old NH-207) on Hybrid Annuity Mode under Bharatnala Pariyoina in the state of Karnataka.

August 27, 2020 / 11:44 AM IST
 
 
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Dilip Buildcon share price was up 2 percent intraday on August 27 after the company received a letter of acceptance for Rs 1,278 crore project in Karnataka.

Dilip Buildcon Limited has received a letter of acceptance (LOA) for a new HAM project including 4-laneing from 42 km to 80 km of Dodabaltapur Bypass to Hoskote section of NH-648 (Old NH-207) on Hybrid Annuity Mode under Bharatnala Pariyoina in the state of Karnataka, the company said in an exchange filing.

The completion and operation period is of 24 months.

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The stock price has gained over 39 percent in the last one month and was trading at Rs 400.90, up Rs 8.60, or 2.19 percent. It has touched an intraday high of Rs 408 and an intraday low of Rs 393.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock has been showing strong momentum with price above short, medium and long term moving averages.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Aug 27, 2020 11:44 am

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