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Business News›Markets›Stocks›News›Dilip Buildcon surges 6% after JV executes
contract agreement with Gujarat Metro
* Dilip Buildcon
* NCC
* Ahluwalia Contr
* Hind Const Co
* Man Infracons

THE ECONOMIC TIMES DAILY NEWSPAPER IS AVAILABLE ONLINE NOW.

Read Today's Paper

DILIP BUILDCON SURGES 6% AFTER JV EXECUTES CONTRACT AGREEMENT WITH GUJARAT METRO

SECTIONS
Dilip Buildcon surges 6% after JV executes contract agreement with Gujarat Metro
By
Navdeep Singh

, ETMarkets.comLast Updated: Dec 15, 2022, 12:37 PM IST
Synopsis

IN A REGULATORY FILING, DILIP BUILDCON SAID THAT THE ORDER IS FOR THE
CONSTRUCTION OF 10.559 KM ELEVATED VIADUCT AND 11 STATIONS FROM BHESHAN DEAD END
TO MAJURA GATE STATION, INCLUDING THE VIADUCT RAMP TO DEPOT ENTRY NEAR BHESHAN
FOR SURAT METRO RAIL PROJECT PHASE - 1, CORRIDOR-2.

ETMarkets.com
Shares of construction firm
Dilip Buildcon
NSE -2.28 % rallied nearly 6% to Rs 243 in Thursday’s intraday trade after the
company through RBL-DBL JV executed a contract agreement with the Gujarat Metro
Rail.

In a regulatory filing, Dilip Buildcon said that the order is for the
construction of 10.559 km elevated viaduct and 11 stations from Bheshan dead end
to Majura gate station, including the viaduct ramp to depot entry near Bheshan
for Surat Metro Rail Project Phase - 1, Corridor-2.

The project costs Rs 1,061 crore and the completion period is 26 months.

At 11.05 am, the scrip was up 3% at Rs 236.4 over its last day’s closing price
of Rs 229.6 per share. However, the stock has fallen over 45% year-to-date.

As per Trendlyne data, the highest target price for the stock goes up to Rs 400,
while the average target price estimate is Rs 303, which suggests an upside
potential of 32% from the current market prices.

Out of the four analysts covering the stock, one has a strong buy rating, one
has a strong sell rating and the other two have hold ratings.

(Disclaimer: Recommendations, suggestions, views and opinions given by the
experts are their own. These do not represent the views of Economic Times)

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