Dilip Buildcon Ltd. has received order worth Rs 2,631.14 crore from Bharat Sanchar Nigam Ltd. As part of the order, the company will develop middle mile and last mile network of Bharat Net in Jammu & Kashmir and Ladakh regions. The order is under design, build, and operate model.
DBL-STL Consortium has fetched the advance work order, the exchange filing said. Dilip Build will complete the project in three years and maintain it for 10 years, the exchange filing said. The company has project execution portion of 70.23%.
Dilip Buildcon's share price rose 5.06% to Rs 479.80 apiece, the highest level since March 24. It was trading 4.25% higher at Rs 473.65 apiece compared to a 0.45% advance in the NSE Nifty 50 index.
The stock gained 11.39% in 12 months and rose 4.95% on a year-to-date basis. The relative strength index was at 59.29.
Out of five analysts tracking the company, two maintain a 'buy' rating, two recommend a 'hold', and one suggests to 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 4.9%.
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