Shares of this civil construction company are buzzing on the bourses today!

As per the exchange filing, the company reported the execution of a contract agreement with Gujarat Metro Rail Corporation Ltd.

The shares of Dilip Buildcon Ltd are buzzing on the bourses today. As of 11.46 am, the shares of the company are trading higher by 2.74%. Owing to this, the shares of Dilip Buildcon Ltd are one of the top gainers on BSE from Group A. Meanwhile, the frontline index S&P BSE Sensex is down by 0.5%.

Even in the pre-opening session today, the shares of Dilip Buildcon witnessed increased demand from investors. During this period, the shares of Dilip Buildcon were trading higher by 3.22%.

The rally in the share price has come on the back of an announcement made by the company yesterday. As per the exchange filing, the company reported the execution of a contract agreement with Gujarat Metro Rail Corporation Ltd. This contract pertains to the construction of a 10.559 Km Elevated Viaduct and 11 Nos. Stations through RBL-DBL Joint Venture. The project cost stands at Rs 1061 crore and is expected to be completed in 26 months.

Dilip Buildcon’s core business is undertaking construction projects across India in the roads and irrigation sectors. They specialize in constructing state and national highways, city roads, culverts and bridges.

In the recent quarter Q2FY23, on a consolidated basis, the company’s net revenue increased by 16.98% YoY to Rs 2595.79 crore. Similarly, the company reported a net profit of Rs 13 crore against a net loss of Rs 441 crore. The company is a constituent of Group A stocks and commands a market capitalization of Rs 3,447.75 crore.

Today, the scrip of Dilip Buildcon Ltd opened at Rs 237 and has touched a high and low of Rs 243 and Rs 235.30, respectively. So far 62,811 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 541.65 and Rs 187.40, respectively on BSE.