India's Dilip Buildcon up after stake transfer from units to Alpha Alternatives

Ashoka Buildcon

02/04/2024 09:05

** Shares of construction firm Dilip Buildcon  DIBL.NS  up
~2% after hitting session's high of 3% earlier  
    ** Co transferred 26% stake from three units to asset
management firm Alpha Alternatives in a deal worth 1.09 bln
rupees ($13.1 mln)
    ** Stock has been trading over its 200-day simple moving avg
since June 2023, volumes over 605,000 shares 
    ** Stock on track for fourth straight session of gains,
longest winning streak since early Jan. 
    ** Including session's gains, stock up 21% YTD vs 77% surge
in 2023 
    ** Peer firm HG Infra  HGIN.NS  is up ~28% YTD, Ashoka
Buildcon has gained ~21% 



($1 = 83.3700 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))