India's Dilip Buildcon hits 22-month high on demand bets

Dilip Buildcon

13/11/2023 05:47

** Shares of infrastructure co Dilip Buildcon  DIBL.NS  rise
as much as 7.6% to hit a 22-month high of 404.35 rupees   
    ** Stock on track for third straight session of gains, if
trend holds
    ** DIBL gained more than 23% in last nine days, barring one 
    ** Stock's Relative Strength Index at 76.3, indicating it
may be overbought - LSEG data
    ** Infrastructure firms are riding a demand boom as govt
spends more on construction and infrastructure projects ahead of
state and general elections
    ** More than 5.3 mln shares traded by 11:03 a.m. IST, 3x
their 30-day avg
    ** DIBL up ~85% YTD

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))