India's Dilip Buildcon hits near 3-month high after $86 mln order win

Dilip Buildcon

05/12/2022 04:17

** Shares of construction and infrastructure development
company Dilip Buildcon Ltd  DIBL.NS  rise as much as 3.7% to 247
rupees, their highest since Sept. 13
    ** Co said on Saturday that it executed a contract agreement
with the Gujarat Metro Rail Corporation (GMRC) on Dec. 2 for a
7.02 billion rupees ($86.45 million) order to build elevated
viaduct and stations for Surat Metro Rail Project Phase-1
    ** Order to be completed in 26 months
    ** Stock posts its biggest intraday pct change since Nov. 29
    ** More than 264,000 shares change hands by 9:28 a.m. IST ,
1.1x 30-day avg of 235,904 shares
    ** One of the 5 analysts covering the stock has a "strong
buy" rating, 3 recommend "hold," while one rates it at "strong
sell;" median PT is 303 rupees - Refinitiv data
    ** Stock down 46.2% YTD, up to last close
    ($1 = 81.2040 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))