Shares of Dilip Buildcon rose 5 percent in early trade on March 28 after company emerged as a lowest bidder for road project in Andhra Pradesh.
Dilip Buildcon has been declared as the L-1 (lowest) bidder for a tender floated by National Highways Authority of India on hybrid annuity basis (HAM), it said in a regulatory filing on March 28.
The project is development of six-lane access controlled greenfield highway from Audireddipalle to Mallapalle of 'Bengaluru - Vijayawada economic corridor on HAM mode under Bharatmala Pariyojana Phase-I (Package -7) in the state of Andhra Pradesh.
The project is worth Rs 780.12 crore and to be constructed in 24 months and operated for 15 years, from commencement of operations date.
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At 09:46 hrs Dilip Buildcon was quoting at Rs 182.90, up Rs 7.65, or 4.37 percent on the BSE.
The share touched a 52-week high of Rs 317.35 and a 52-week low of Rs 174.60 on 11 April, 2022 and 27 March, 2023, respectively.
