India's Dilip Buildcon up after winning bid for $50 mln state project

Dilip Buildcon

16/02/2024 04:13

** Shares of Dilip Buildcon  DIBL.NS  up 3.7% at 467 rupees 
    ** Construction firm, through a joint venture, declared as
the lowest bidder for a project worth 4.13 bln rupees ($49.8
mln), floated by central India's Madhya Pradesh state 
    ** Stock has been trading above its 200-day moving avg since
June
    ** More than 2.7 mln shares change hands in early trade,
2.1x its 30-day avg
    ** Mean rating of four analysts covering the stock is "buy;"
median PT is 449 rupees - LSEG data
    ** Stock up 20.6% YTD, after gaining 77% in 2023


($1 = 83.0125 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))