MUMBAI: Shares of Dilip Buildcon closed 4% greater on Tuesday after the corporate bagged a road project worth ₹1,140.50 crore in Telangana.
The inventory gained as a lot as 7% intraday earlier than closing at ₹298.50. The benchmark index, Sensex ended 2% greater at this time.
“The company has been declared as L-1 bidder in the tender floated by the National Highways Authority of India for the…project in the state of Telangana,” in accordance with a notification to the alternate.
The project, with a size of 52.60 km, is to be accomplished in two years. It entails four-laning of NH-363 from Repallewada to the Telangana-Maharashtra border, the corporate mentioned.
Since January, Dilip Buildcon shares have declined 27% in opposition to a fall of 9% in the Sensex. From March lows, the inventory gained 53%, whereas Sensex was up 42%.